Negative Equity still Plagues Lowest Tier Homes

While the percentage of properties with negative equity decreased during 2015, the lowest-priced homes continued to struggle to regain value, according to Black Knight Financial Services.

The number of underwater borrowers dropped by 31%, or 1.5 million homeowners, but there are still a total of 3.2 million borrowers in negative equity positions, representing $126 billion in underwater first- and second-lien housing debt, Black Knight said in its year-to-year Mortgage Monitor Report for February. read more…

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