According to the Zillow Negative Equity Report, the number of homeowners in the United States who are in negative equity on their mortgages has dropped by more than 40% since early 2012. The report shows that more than 7 million Americans who were once underwater on their mortgages have since managed to return to positive
Despite Lower Home Values, 9 out of 10 Homeowners Stick It Out
May 29, 2012 by
Any smart student of finance will tell you that it’s not a good idea to owe more on something than what it’s worth. That is why so many homeowners (especially those who had little to no buy-in) have simply walked away from their devalued homes, rather than remain underwater.
