The number of homeowners with underwater mortgages, or those that owe more than their homes are worth, fell in the second quarter. According to real-estate website Zillow.com, the number of single-family homes with mortgages in negative equity dropped to 21.5 percent in the second quarter from 23.3 percent in the first quarter and 23 percent the year before. Stan Humphries, Zillow’s chief economist, said that the decline was partially due to stabilization in housing prices but was more the result of the number of those homes that have been through the foreclosure process. More here, here, and here.
Theresa Springer’s Blog
Number Of Underwater Mortgages Declines
August 9, 2010
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