Over 1 of every 4 homeowners in Missouri underwater

missouri homeowners underwaterAs of April 2013, there were 182,678 homeowners in Missouri (26.68 percent) that were underwater on their mortgage meaning that their loan balances exceeds 125 percent of the current value of their home, according to a report just released by RealtyTrac.  As a comparison, Illinois’ underwater homeowner rate is 34.79, Florida 41.24, Nevada 52.07 and California 25.07
In a little more upbeat news, the RealtyTrac report also revealed that foreclosure filings (default notices, scheduled foreclosure auctions and bank repossessions) in April affected 144,790 properties in the U.S. which is a decline of 5 percent from the month before and a decline of 23 percent from a year ago and the lowest level of foreclosure activity in over 6 years (74 months).


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