Tagged : home equity

Found 3 blog entries tagged as "home equity".

dsnews.com - Foreclosures have drained nearly $2 trillion in home equity from neighborhoods across the United States, according to a report from the Center for Responsible Lending (CRL).

In a report titled “Collateral Damage: The Spillover Costs of Foreclosures,” researchers Debbie Bocian, Wei Li, and Peter Smith conclude that, based on the 10.9 million loans that entered foreclosure between 2007 and 2011, approximately $1.95 trillion in property value has been lost or will be lost by residents who live close to foreclosed properties. This estimate includes losses stemming from completed foreclosures and future losses projected on foreclosure starts.

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dsnews.com- National home values in the third quarter experienced their biggest increase in more than half a decade, according to Zillow.

Home values in the United States rose 1.3 percent from the second to the third quarter, marking the fourth straight quarter of increases, Zillow reported. The quarterly rise is the biggest increase since March 2006, when home values rose 1.5 percent.

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Americans are digging themselves out of mortgage debt.

Home equity in the first quarter rose to $6.7 trillion, the highest level since 2008, as homeowners taking advantage of record-low borrowing costs to refinance their loans brought cash to the table to pay down principal. The 7.3 percent gain was the biggest jump in more than 60 years, according to an analysis by Bloomberg of Federal Reserve data.

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