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700k borrowers no longer underwater

By errc   Follow   Thu, 12 Jul 2012, 9:12am   258 views   2 comments
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http://finance.yahoo.com/news/700-000-borrowers-no-longer-123600460.html

Thanks to improving home prices, fewer mortgage borrowers owe more on their homes than they are worth.

More than 700,000 homeowners were no longer underwater on their homes during the first quarter, according to CoreLogic.

According to the report, 11.4 million -- or 23.7% -- of mortgage borrowers were underwater on their homes at the end of March. That's down from the 12.1 million, or 25.2%, of borrowers who were underwater three months earlier.

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1. errc Follow Befriend (7) 30 threads 1,220 comments 31 male Premium

   1   9:13am Thu 12 Jul 2012   Share   Quote   Permalink   Like   Dislike (2)   So says some magical paper valuations. What would happen if those people tried to sell those houses at those valuations? Same with banks, if we reneged mark-to-fantasy, would they all be instantly bust?

2. Strategic Renter Follow Befriend 31 threads 98 comments

   2   9:19am Thu 12 Jul 2012   Share   Quote   Permalink   Like   Dislike   Fantasy and manipulation. Spring bounce has returned to price falls.