CoreLogic: 1.4 million Homes Moved Into Positive Equity In 3Q's of 2012
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January 17, 2013 - 9:39am
Econintersect: CoreLogic reported that the number of residential properties in negative equity declined in 3Q2012. Negative equity means that the home is worth less than the mortgage.
“Through the third quarter, the number of underwater borrowers declined significantly,” said Mark Fleming, chief economist for CoreLogic. “The substantive gain in house prices made in 2012, partly due to tight inventory caused by negative equity’s lock-out effect, has paradoxically alleviated some of the pain.”
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