Underwater Mortgages Drop to 9 Million as Home Prices Rise: Report

Posted by Bonnie Martin Designated Broker on Monday, May 6th, 2013 at 7:15pm.

Rising home prices are helping pull more distressed borrowers from out of the water, according to the March Mortgage Monitor Report from Lender Processing Services(LPS).

 

The number of underwater borrowers -- those who owed more than their homes were worth -- fell 41% from a year earlier. In total, 9 million borrowers or 18% of active mortgages were underwater at the end of March.

To read more of this article, click the link below:

#facebooklike#

Leave a Comment