Posted To: MND NewsWire

Two companies have issued reports on the strong gains in homeowner equity. Not only is this an indication of building household wealth and the ability of the housing market to withstand some of the economic damage of the pandemic according to ATTOM Data Systems in its first quarter U.S Home Equity and Underwater Report, but the CoreLogic, in a blog entry, says the equity could help prevent widespread mortgage defaults and foreclosures as government pandemic support fades. ATTOM reports that 17.8 million U.S. homes were, in its words, “equity rich” in Q1. That is, the combined loan-to-value ratio (CLTV) of their mortgages was 50 percent or less. The 17.8 million homes represent 31.9 percent or one out of every three of the 55.8 million mortgaged homes in the U.S. This up from 30.2 percent in…(read more)

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Source: Mortgage News Daily