Trending Thursday: Housing, mortgage finance getting a break from Washington?

Trending Thursday: Housing, mortgage finance getting a break from Washington?

Plus untying Fannie, Freddie and the whole Gordian knot of conservatorship

Existing home sales crater in April, falling 3.3%

Spring buying stalls out after strong March performance

It's official: NYDFS Superintendent Ben Lawsky stepping down

4 years as leader of “long reach” New York financial regulator
W S
Servicing / The Ticker

Midwest homeowners struggle to regain home equity

Over 30% of homeowners in Ohio, Michigan, Illinois are underwater

underwater homeowner
/ Print / Reprints /
| Share More
/ Text Size+

While other states start to recover, homeowners in Ohio and other Midwestern states are struggling to regain equity in their houses, with more than 30% of mortgaged homeowners in Ohio, Michigan and Illinois owing considerably more than their homes are worth. Per The Columbus Dispatch:

In Ohio, 31% of homeowners with loans owe at least 125% more than their estimated home value, RealtyTrac said. In central Ohio, the figure is 27 percent.

In all, RealtyTrac estimates that 10.7 million homeowners, or 23% of those with mortgages, are “deeply underwater,” down from 11.3 million in May and 12.5 million last September.

Read full story

Recent Articles by HousingWire Staff

Comments powered by Disqus