Though three million borrowers nationwide remain underwater, representing about 6.1 percent of the active mortgage universe, the number of underwater borrowers is down about 79 percent from the peak of 15 million in 2010, according to Black Knight.
Read More »Senator Proposes Legislation to Help Underwater Borrowers Avoid Foreclosure
Menendez's bill seeks to help both homeowners and lenders. In exchange for reducing the amount of principal owed, banks would be entitled to a portion of any future increase in value the home might experience. This gives the underwater homeowners relief on their mortgages while banks take a short-term reduction in exchange for a long-term gain pending the housing market recovery.
Read More »Negative Equity Rate Falls by Nearly 30 Percent Year-Over-Year
The number of residential mortgage borrowers in a negative equity position during January 2015 was reported at slightly more than four million, which is a decline of 29 percent from the same period in 2014, according to Black Knight's March 2015 Mortgage Monitor released Monday.
Read More »Black Knight: 1 in 10 Borrowers Underwater
In Black Knight Financial Services’ latest Mortgage Monitor Report, the company found that only one in ten Americans are underwater, down from one in three in 2010. Overall, the company's look at March data reflected a shifting landscape.
Read More »