Wednesday, November 25, 2020 9:12 pm

Economy Watch: Negative equity dropping, but still persistent

negativeBy Dees Stribling |MHN Online

In yet another report pointing to dropping negative equity among U.S. residential mortgage holders, CoreLogic said on Tuesday that about 2.5 million more residential properties returned to a state of positive equity during the second quarter of 2013. The total number of mortgaged residential properties with equity currently stands at 41.5 million, while 7.1 million homes, or 14.5 percent of all residential properties with a mortgage, were still in negative equity as of the end of 2Q13. Three months earlier, 9.6 million homes, or 19.7 percent of all residential properties with a mortgage, were negative, which represents a remarkable rapid shift.

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