Recently, almost all of the news that pertains to the recovering housing market has been good, but it is not without its caveats.
For example, MarketWatch reports that a new analysis by RealtyTrac has found the percent of mortgaged properties that are considered ‘seriously underwater’ declined to 11.5 percent at the end of 2015. While that is 1.2 percent lower than both the third quarter and the fourth quarter of 2014, it still may take up to half a decade before most of those properties regain equity.
A property is considered seriously underwater if the outstanding loan is worth at least 25 percent more than the home’s market value.
