Underwater Homeowners Effectively Bailed-Out By Equity Surge

Posted To: MND NewsWire

Homeowner equity grew $2.9 trillion nationwide from the second quarter of 2020 to the same quarter this year. CoreLogic’s Homeowner Equity Report shows U.S. homeowners who have mortgages (which account for roughly 63 percent of all residential properties) saw their equity increase by 29.3 percent over that period, an average borrower gain of $51,500. With over 1.5 million homeowners in forbearance and 5 million consumers unemployed, current equity figures have added import. A recent CoreLogic survey found 59 percent of respondents feel extremely confident in their ability to keep current on their mortgage payments in the coming year. CoreLogic says, “Thanks to ongoing government provisions, increased vaccine availability – enabling many to return to work and a steady income – and record homeowner…(read more)

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Underwater Homeowners Effectively Bailed-Out By Equity Surge
Underwater Homeowners Effectively Bailed-Out By Equity Surge

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