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Home prices are rising and the economy is improving, but the ills of the housing crash are far from cured: 7.4 million borrowers were still "seriously" underwater on their mortgages at the end.
South Florida homeowners continue to regain equity lost during the last decade’s housing crisis, as the number of "seriously underwater" mortgages has declined sharply over the past three years.
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leadsinfobiz Fewer underwater mortgages as higher home prices help owners regain equity – South Florida sun sentinel underwater mortgage rate falls below 10 percent. by Lauren Brocato May 31, 2018. For the first time since the housing market fell, the share of homeowners who are underwater on their mortgage fell below 10 percent, according to.
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Last year, 1.2 million homeowners who were underwater were able to regain positive equity in their homes, says Zillow. But 5 million homeowners remain underwater on their mortgages. A little under 45 percent of all underwater homeowners are within 20 percent of gaining positive equity, says the listing site.
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That’s right. Even if you owe more than your home is worth, there are programs to help nearly all types of borrowers. Here are the most frequently asked questions about refinancing an underwater mortgage. What is an Underwater Mortgage? An underwater mortgage is when a homeowner owes more on a mortgage than your house is worth.
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