First American CoreLogic reported today that more than 11.3 million, or 24 percent, of all residential properties with mortgages, were in negative equity at the end of the fourth quarter of 2009, up from 10.7 million and 23 percent at the end of the third quarter of 2009. An additional 2.3 million mortgages were approaching negative equity at the end of last year, meaning they had less than five percent equity. Together, negative equity and near‐negative equity mortgages accounted for nearly 29 percent of all residential properties with a mortgage nationwide.
Read more at http://www.loanperformance.com/infocenter/library/Q4_2009_Negative_Equity_Final.pdf
Nagle Law Group, P.C.
4530 E. Shea Blvd., Ste 140
Phoenix, AZ 85028
(602) 595-3156
http://www.naglelawgroup.com.realestate.asp
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