As of Q1 2010, 14.75 million owe more than their house is worth: . That would be a third of all homeowners with a mortgage. Update: As of early 2011, 15.7 million homeowners are underwater (27 percent of mortgaged single-family homes).
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While negative equity makes a household more vulnerable to foreclosure, most homeowners in negative equity will not end up in default. The majority of underwater homeowners continue to make regular payments on their mortgages, with only 6.9 percent of underwater homeowners being delinquent.
"Since home prices bottomed out nationwide in the first quarter of 2012, the number of seriously underwater U.S. homeowners has decreased by about 7.1 million, an average decrease of about 1.4 million each year," said Daren Blomquist, senior vice president with attom data solutions.
5 Facts About Underwater Homeowners. the data analytics firm offered a broad overview of the state of the underwater mortgage market. What follows, in turn, are five of the more telling facts I.
The envelope please. Cue the drum roll. And the five states with the highest percentage of underwater homeowners are: Nevada – In many ways, the Silver State could be considered Ground Zero for the foreclosure crisis. And it still shows. Today, 67 percent of all mortgage holders are underwater in their loans. Home prices in las vegas fell 4.2 percent in the third quarter alone.
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Nearly 12% of all U.S. homes with a mortgage were considered seriously underwater during the second quarter of 2016, according to ATTOM Data Solutions, the parent company of RealtyTrac. That’s a staggering 6.7 million properties. "Seriously underwater" means the homeowner has a loan-to-value, or LTV, ratio of 125% or above.
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Five states account for most lagging values. As the housing market rebounds, it’s easy to forget those who are still struggling with underwater home values. Nearly 11% of U.S. Homeowners Are Still.
The number and share of seriously underwater homeowners at the end of the fourth quarter of 2014 were both at their lowest levels since RealtyTrac began tracking home equity trends in the first quarter of 2012 and are down from a peak of 12.8 million seriously underwater homeowners representing 29 percent of all homeowners with a mortgage in.