Rising home prices lift 1.3 million out from underwater

Posted by Bonnie Martin Designated Broker on Monday, September 17th, 2012 at 6:57am.

inman.com - Rising home values helped 1.3 million homeowners get out from "underwater" in the first half of the year, and another 2 million would get equity if national home prices increase by another 5 percent, data aggregator CoreLogic said today.

CoreLogic estimates that 22.3 percent of all residential properties with a mortgage were worth less than what was owed on their mortgages at the end of June, down from 23.7 percent at the end of March.

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