Jun 29th 2010 3:41PM
You probably won't be surprised to learn that the key reasons people just walk away from their homes involve job loss and a significant drop in home value. What might surprise you is how long people hold onto their homes before they decide to walk away. The Federal Reserve found in a recent study that most strategic... Continue Reading »
May 11th 2010 3:00PM
The number of homes with negative equity -- when a homeowner owes more on it than its worth -- took a tiny tumble this month, according to CoreLogic. Homes in negative territory still make up 24 percent of all residential properties with a mortgage, but the number fell by 100,000: From 11.3 million to 11.2 million.... Continue Reading »
Feb 25th 2010 4:30PM
This week home mortgage borrowers got the latest word on how much they owe compared to the actual value of their real estate – and the numbers are only getting uglier. First American CoreLogic, a company that gathers data on millions of mortgages that have been packaged into securities for investors, reports that... Continue Reading »
Nov 9th 2009 5:30PM
According to a page one story in today's Wall Street Journal, the wealthy can be just as bad about diluting their home equity as your average Joe, if not slightly worse. Ronald Burkle, a grocery store billionaire and Bill Clinton supporter, has apparently borrowed $56 million against his two homes, including $9 million in... Continue Reading »
