Nevada has the most underwater homeowners

CoreLogic’s chief economist noted: average home equity rose by $13,700 for U.S. homeowners during 2016. The equity build-up has been. 29.7% of all U.S. underwater mortgages in the fourth quarter of.

 · Arizona, California, Florida, Georgia, Michigan, Nevada and Ohio remained the most stressed states, with 62 percent of underwater borrowers and just 41 percent of mortgages.

Nevada has the most underwater homes in the nation, with 46% of the state’s mortgaged homes carrying loans that are at least 25% higher than the property’s current market value.

 · One in four homeowners in the Las Vegas area owes more to the bank than his or her home is worth, according to RealtyTrac. That is the third.

The state of Nevada has. in most cases, they will not need to conduct an appraisal. FHFA said Fannie Mae and Freddie Mac will also eliminate certain fees for borrowers who refinance into.

Despite some promising signs for a housing recovery, more than one in four homeowners still have underwater mortgages. in the No. 1 spot on its list of Most Miserable Cities earlier in the year. Ft.

At the state level, Nevada had the highest percentage of negative equity — 66.9 percent of homeowners with mortgages were underwater — followed by Arizona (52.3 percent), Georgia (46.8 percent.

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The bad news is that because of the damage inflicted by the recession on the Southern Nevada residential real estate market, the percentage of underwater homeowners is sky high compared to the rest of the nation. CoreLogic, a company in Santa Ana, Calif., that tracks real estate data, released new underwater mortgage statistics Thursday.

On a state level, Nevada has the highest percentage of negative equity, with 66.9 percent of all homeowners with mortgages underwater. Arizona (52.3 percent), Georgia (46.8 percent), Florida (46.3 percent) and Michigan (41.7 percent) also have highest percentages of homeowners in negative equity.

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According to Channel 8 News out of Las Vegas, nearly half of Nevada’s mortgaged homes remain deeply underwater, which is why the state ranks highest in the nation when it comes to upside down.

Faring the worst are Nevada homeowners, 45 percent of whom owe more than their home is worth. On the other end, less than 6 percent of Montana and North Dakota homeowners are underwater.

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