By Dees Stribling | MHN News
Zillow said on Thursday that it estimates that the national negative equity rate fell to 23.8 percent of all homeowners with a mortgage during the second quarter, down from 25.4 percent in the first quarter. As home prices rise in most markets, the number of underwater mortgages slowly declines; this is the fifth quarterly drop for that painful metric, according to the real estate data specialist. Of U.S. all homeowners–roughly one-third of homeowners don’t have a mortgage and own their homes free and clear–16.7 percent are underwater.
