Posts with tag underwater mortgage

As we continue to see signs of a broad real estate market recovery, it's important to remember that the recovery still varies wildly from market to market. Anyone still struggling to sell their homes, or with underwater mortgages are well aware that things aren't better everywhere. But some of the hardest hit areas are... Continue Reading »

Underwater mortgages have plagued the housing market since the housing bubble burst in 2006. Rapidly declining prices meant that homeowners started to owe more on their mortgages than their homes were worth. This can lead to short sales, foreclosures, and a serious blow to a households' net worth. CoreLogic released... Continue Reading »

By Les Christie @CNNMoney NEW YORK -- Despite rising home prices, more than 30 percent of borrowers, or close to 16 million homeowners, were underwater on their mortgage during the first quarter, according to Zillow. The percentage of borrowers who owed more on their home than it was worth increased to 31.4 percent... Continue Reading »

Only about 1 in 20 underwater homeowners may qualify for principal reduction under states' recent settlement with five big banks, a new study says. A calculation by a Brookings Institution economist narrowed down the pool of underwater homeowners to 500,000 who could qualify for principal reduction from the $25 billion... Continue Reading »

The loan modification programs have been a joke. You have a house that has tanked in value and the best the banks can come up with is a plan where they sort of delay what you owe long enough for you to get back on your financial feet -- if that -- based on the flawed logic that the housing market is certain to improve in... Continue Reading »