Fewer home mortgages are underwater as values stabilize

Filed under: Economy , Investing The percentage of Americans owning homes that are underwater is falling, according to Zillow’s third-quarter Real Estate Market Reports, which focus on 156 metropolitan areas. The other good news is that home values were relatively flat between the second and third quarters, so the price declines may be over for most homeowners. Zillow found that 21% of homeowners with single-family homes were underwater on their mortgages at the end of the third quarter, down from 23% in the previous quarter. Two factors play into the drop. One is that many underwater homeowners have already lost their homes to foreclosure. The second is that home values have stabilized in some areas of country and have even started going back up in other areas. Continue reading Fewer home mortgages are underwater as values stabilize Fewer home mortgages are underwater as values stabilize originally appeared on DailyFinance on Mon, 09 Nov 2009 10:10:00 EST. Please see our terms for use of feeds . Read | Permalink | Email this | Comments

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Fewer home mortgages are underwater as values stabilize

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