Underwater Homeowners Are Drying Up

As home prices rise, fewer homeowners are underwater, or owing more on their mortgage than their home is currently worth. In the first quarter of 2017, 350,000 borrowers regained equity, which dropped the total number of underwater owners to 1.8 million, according to the latest Mortgage Monitor Report from Black Knight Financial Services, a real estate data firm.

The population of underwater homeowners has dropped by nearly 1 million borrowers since last year. This marks the first time the underwater population has dropped below 2 million since 2006.

READ MORE:  http://realtormag.realtor.org/daily-news/2017/07/11/underwater-homeowners-are-drying-up#sf97206068

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