HOUSING STILL FALLING: 7.5% Dec 2011 Home Buyers Now Under Water

As of December 2011, the latest figures available, 31 percent of the U.S. home loans that were in negative equity – in which the outstanding loan balance exceeds the value of the home – were FHA-insured mortgages, according to CoreLogic. Many borrowers, particularly since late 2010, thought they were buying at the bottom of a housing market that had already suffered steep declines, but have been caught out by a continued fall in prices in wide swaths of America. Even for loans taken out in December – less than four months ago and the last month for which data is available – nearly 44,000 borrowers, or about 7.5 percent of the total, now find themselves under water. – Reuters

FacebookTwitterEmailGoogle+StumbleUponLinkedInShare

Leave a Comment


Facebook Auto Publish Powered By : XYZScripts.com