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Study Finds 8.3M Homeowners on Verge of Positive Equity

Home prices have rebounded so rapidly that ""RealtyTrac"":HTTP://WWW.REALTYTRAC.COM is reporting 8.3 million borrowers who've been underwater are on track to have enough equity to sell their home within the next 15 months-without resorting to a short sale.

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Metro markets that boast the highest percentage of homes with resurfacing equity include Omaha, Nebraska; Colorado Springs, Colorado; Tulsa, Oklahoma; Little Rock, Arkansas; and Raleigh, North Carolina.

In a study released Thursday, RealtyTrac also revealed that nationwide, more than 126,000 properties in the foreclosure process are actually in good equity standing-meaning they have a loan-to-value (LTV) ratio of 100 percent or lower. That figure represents 24 percent of all homes currently in foreclosure.

States with the highest percentage of positive-equity foreclosures include Oklahoma and Hawaii-both with more than half of their foreclosures above-water (57 percent and 53 percent, respectively), followed by New York (47 percent) and Texas (46 percent).

About Author: Carrie Bay

Carrie Bay is a freelance writer for DS News and its sister publication MReport. She served as online editor for DSNews.com from 2008 through 2011. Prior to joining DS News and the Five Star organization, she managed public relations, marketing, and media relations initiatives for several B2B companies in the financial services, technology, and telecommunications industries. She also wrote for retail and nonprofit organizations upon graduating from Texas A&M University with degrees in journalism and English.
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