Number of Underwater Borrowers Declines by 30 Percent

TWL_2015_may_blog3The country’s negative equity crisis is continuing to see steady improvement according to the latest Mortgage Monitor Report from Black Knight Financial Services. A little more than 4 million Americans are currently upside down in their mortgages. That number is 30 percent less than this time last year. Based on the report’s findings, the nation’s most affordable homes appear to be the hardest hit by negative equity. Borrowers who owned homes in the bottom 20 percent price tier were nine times more likely to be underwater on their mortgage than borrowers who owned homes in the top 20 percent price tier.  The report also revealed that 29 percent of borrowers who were underwater were seriously delinquent on their mortgage payments.

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