7.6 Million Borrowers Underwater on Mortgages: Study

Roughly 56% of all U.S. mortgages are owned or guaranteed by Fannie and Freddie and about 11 million homeowners owe more than their properties are worth. Borrowers with negative equity are often.

As of the end of December 2008, more than 8.3 million U.S. mortgages, or 20% of all mortgaged properties, were in a negative-equity position – a jump from September 2008’s total of 7.6 million, according to First American CoreLogic’s latest negative-equity report. During the fourth quarter of 2008, an average of 230,000 borrowers a month [.]

 · The FHFA’s Home Affordable Refinance Program (HARP), which provides borrowers with little or no equity a way to refinance without additional mortgage insurance, is.

homeowners remain underwater, and mortgage delinquency rates remain. Mortgage Aid Extended Nearly 7.6 Million Times, Outpacing Foreclosures Cumula:ve Mortgages Receiving Aid and. Counseled Borrowers (thousands) 464.9 389.5 9,944 3rd Q 13 Borrower Annual Savings ($ millions).

One in four borrowers is underwater: now what?. According to a study conducted last year by Experian and the consulting firm Oliver Wyman; 588,000 borrowers who could afford to pay their mortgages walked away in 2008.. I think the underwater mortgage thing is more complex than the sub prime mortgage fiasco, even though they’re related. I.

In Battered Secondary Mortgage Market, Some Encouraging Trends May Be Emerging Philly Mayor Throws Support Behind City-wide Foreclosure Prevention Program PHILADELPHIA (CBS) – philadelphia city council has passed a bill to help homeowners keep their houses, even if they’re behind on their real estate taxes. The foreclosure diversion bill aims to.FHFA appoints new chief of staff FHFA. On October 8, FHFA Director Mel Watt announced Janell Byrd-Chichester as the agency’s new Chief of Staff. From 2010 to 2014, Ms. Byrd-Chichester was a partner at DC’s Mehri & Skalet law firm in their fair housing, lending and consumer protection practice.

New Mortgage Modification Rules to Help Unemployed Borrowers. Changes to the government’s foreclosure prevention efforts are targeting unemployed homeowners, a group that has been growing since the start of the economic recession. – PR10630782

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 · NJ Still Drowning in ‘Underwater’ Mortgages, New Study Reveals. Looking at metropolitan areas of more than 1 million population, the report shows areas initially hard.

 · More than 5 million people in Britain have no idea how much their mortgage is costing them, research from habito, the digital mortgage broker, suggests. With 7.6 million active mortgages in Britain, the study found one third (33%) of UK mortgage.

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Rising home prices helped nearly one million homeowners emerge from being underwater on their mortgages during the second quarter.. of all mortgage borrowers under age 40 are underwater, about.

Some borrowers can’t keep up with their mortgage payments because they’re struggling to make ends meet.. But even though 11 million homeowners in this country are underwater, only 7 percent.

The percentage of "underwater" borrowers rose to 20 percent from 18 percent. Another 2.16 million properties could go underwater if home prices fall another 5 percent, the study shows.