U.S. ‘Underwater’ Homeowners Regain Equity as Prices Rise
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About 200,000 U.S. homeowners regained positive equity in their properties in the fourth quarter as prices rebounded from a more than five-year slump, according to CoreLogic Inc.
At the end of last year, 10.4 million homes, or 21.5 percent of all residential properties with a mortgage, were underwater, with owners owing more than the property was worth, the real estate data firm said in a statement today. That was down from 10.6 million homes, or 22 percent, at the end of the third quarter.