Fewer Americans Owing More Than Home is Worth
By: Michael C. Fehn
Updated: March 19, 2013
Home Prices continue to rise, and consequently, the number of home owners who are "under water" on their mortgages is dropping.
As of December, 10-point-4 million homeowners owed more than their homes were worth, down from 10-point-6 million at the end of the third quarter.
Market researcher, Corelogic, says about 1-point-7 million homeowners moved from negative to positive equity in 2012, with home prices up just over 8 percent from a year earlier.
Additionally, a survey by Zillow, found many believe home values will rise about 4 and a half percent this year, and another 4 percent next year.
As of December, 10-point-4 million homeowners owed more than their homes were worth, down from 10-point-6 million at the end of the third quarter.
Market researcher, Corelogic, says about 1-point-7 million homeowners moved from negative to positive equity in 2012, with home prices up just over 8 percent from a year earlier.
Additionally, a survey by Zillow, found many believe home values will rise about 4 and a half percent this year, and another 4 percent next year.
