Fewer U.S. Homes Have Underwater Mortgages

According to a recent report that was released by MSNBC earlier today there are fewer homes this quarter that are “underwater” than in previous months.  While this alone cannot be used as a sign to show that the housing market has improved dramatically it does show that the housing market has done some improving in the past couple of months.

An underwater mortgage is when a person owes more on their house than it is worth leaving many homeowners feeling stranded because in these type of situations they often are unable to refinance their homes, modify their mortgages or, are sometimes, unable to sell their homes. The fact that today less mortgages like this exist is definitely a positve sign and one step of many that need to be made in the right direction.

 

Steven T. Decker is an experienced real estate lawyer, author and speaker. With over 20 years of experience, Steven represents individuals and investors in the purchase of residential and commercial real property. Steven is the author of "The Five Myths that can Ruin the Purchase of Your Home" and he is the publisher of the "New York Real Estate Law Blog". If you are buying or selling a home or commercial property in Staten Island, New York City or New Jersey contact Steven T. Decker, Esq. to discuss the services that he offers and how his legal representation will assist you.

IMPORTANT DISCLAIMER: The information contained on this website is provided for general educational purposes only, should not be relied on as legal advice and does not serve to create an attorney client relationship. In utilizing this website you acknowledge that there is no attorney client relationship between you and Steven T. Decker, Esq. and that the information contained on this site does not and cannot serve as a replacement for the competent legal advice of a licensed attorney in your state. The content of this website is subject to the Copyright of its author, Steven T. Decker, Esq.
You can leave a response, or trackback from your own site.

Leave a Reply


× 5 = twenty five