Sunday, January 20, 2013

Housing Recovery Bailed Out 1.4 Million Underwater Homeowners in 2012 - The Home Front (usnews.com)

One of the most significant effects of the nation's housing bust has been the swelling ranks of underwater borrowers trapped in homes worth far less than they are worth.

But thanks to sustained rises in home prices, the number of homeowners stuck in the negative equity trap is dwindling. According to analytics firm CoreLogic, 100,000 borrowers edged into the positive equity territory in the third quarter of 2012, adding to the more than 1.3 million borrowers that rose above water on their mortgages through the second quarter of last year.

Read more: Read more: Housing Recovery Bailed Out 1.4 Million Underwater Homeowners in 2012 - The Home Front (usnews.com)

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