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09/25/2014

Fewer Fort Worth-Arlington homeowners under water on their mortgages in the second quarter

 

The number of home owners with mortgages in negative equity in the Fort Worth-Arlington area continues to fall, and stood at 2.7 percent in the second quarter, well below the national number of 10.7 percent, according to a CoreLogic report.

Locally, 10,316 residential properties, or 2.7 percent, with a mortgage were in negative equity, meaning more was owed on the house that it is worth. That compares to 13,137 properties, or 3.4 percent, in the first quarter, CoreLogic said.

CoreLogic, a leading provider of property information, analytics and data-enabled services, said 5.3 million homes, or 10.7 percent of all residential properties with a mortgage nationwide, were in negative equity in the second quarter. That compares to 7.2 million homes, or 14.9 percent, in the same quarter a year ago.

"Many homeowners across the country are seeing the equity value in their homes grow, which lifts the economy as a whole," said Anand Nallathambi, president and CEO of CoreLogic, in a statement. "With more and more borrowers regaining equity, we expect homeownership to become an increasingly attractive option for many who have remained on the sidelines in the aftermath of the great recession."

_ Sandra Baker

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