CoreLogic: More foreclosures lead to fewer underwater mortgages

The number of local homeowners "underwater" on their mortgages is falling as the housing market heals, CoreLogic reported Tuesday. About 11 percent of St. Louis-area homeowners with a mortgage.

NEW YORK (CNNMoney.com) — Fewer people are underwater on their mortgages — further evidence that the real estate free-fall may be slowing. Just 21% of all single-family homeowners owe more..

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Pay $100 for a Property!  Target Delinquent Property Taxes! The rate has risen every month for more than a year. In March 2009, 14 percent of homeowners were delinquent 90 days or more, CoreLogic said. The reason behind the foreclosure. continues to lead.

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Two-thirds of Nevada mortgages are for more than the property is valued. Conversely, nearly half of New York homeowners have 50% or more positive equity. Write to Jason Philyaw .

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A messy situation Gobs of underwater homes can lead to other problems — and according to CoreLogic’s. So meanwhile, as more people enter the market to buy a home, fewer are available. It’s also.

Under the $75 billion program, lenders are paid by the government to alter mortgages in hopes that cheaper loans will lead to fewer. underwater, meaning their mortgage exceeds their home value..

The percentage of homeowners in a negative equity position fell slightly in the second quarter, dropping 20 basis points to 22.5%, according to CoreLogic. The data provider reports that 10.9 million borrowers were underwater at the end of June. An additional 2.4 million borrowers were in a near-negative equity position (i.e., had less than 5% [.]

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The number of U.S. homes worth less than the debt owed on them dropped in the third quarter, largely because of mounting foreclosures rather than a rise in property values, according to CoreLogic Inc. About 10.8 million homes, or 22.5 percent of those with mortgages, were.

NEW YORK — Stop paying your mortgage. everyone who is underwater walked away. It could cause economic havoc. Home prices would plunge even more. Banks would have even more bad loans on their books.

According to CoreLogic, 2.5 million U.S. home properties in the second quarter of 2013 emerged from being in negative equity, or with underwater mortgages.

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In an excellent sign for the housing market, more Americans are able to make timely payments on their home mortgages and fewer are losing their homes to foreclosure that at any point in the last 12.