2019-07-22 Seriously Underwater Properties Up from 2018
| By:
Brad Beckett
Seriously Underwater Properties Up from 2018
by Brad Beckett According to a recent report from ATTOM Data Solutions, there were over 5.2 million properties in the U.S. that were seriously underwater (where the combined balance of loans secured by the property was at least 25% higher than its estimated market value). These 5.2 million seriously underwater properties at the end of Q1 2019 represented 9.1% of all U.S. properties with a mortgage, up from 8.8% in the previous quarter but were down from 9.5% in Q1 2018. Click here to read the full report at ATTOM.
“With home prices increasing at a slower pace in 2018, than in previous years, the potential for people to climb out from mortgages that are underwater or advance into equity-rich territory, tends to be reduced,” said Todd Teta, chief product officer at ATTOM Data Solutions.
