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How bad is the residential mortgage picture?

By: Myles, February 24th, 2010

 In a word, the residential mortgage picture is: BAD.
As reported by MarketWatch, more than 11.3 million homeowners — nearly one-fourth of all Americans with a mortgage — owe more on their loan (or are “under water”), than their home is now worth, according to a report released February 23, 2010, by FirstAmerican CoreLogic.

More than 10% of […]

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Posted in Economy, Foreclosure, Debt, Housing, Short Sale, Foreclosures, Cresession, Home Equity, Bankers, Residential Real Estate, Delinquency Rates, Market Trending | No Comments »

Half-Empty or Half-Full: 50% Homeowners Underwater, 50% Not

By: Myles, July 2nd, 2009

THE “HALF-EMPTY” PERSPECTIVE: It is estimated that more than 50 percent of American homeowners are either in or near a negative equity situation. And if all that is not bad enough, check out the latest news:

 U.S. mortgage applications plunged to a seven-month low last week as demand for home refinancing loans tumbled 30 percent, data […]

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Posted in LTV, Refinance, Residential Real Estate, Historical Perspective, Market Trending | No Comments »