Number of homeowners with negative equity falls by almost 50 percent

negative equityThe number homeowners in a negative equity position (owing more on their mortgage than the current value of their home) during the first quarter of this year fell to just 7.3 million homeowners in the U.S. or less than 15 percent of all homeowners with a mortgage, according to the most recent data from Lenders Processing Services (LPS).  This represents a decline of almost 50 percent in the number of negative equity homeowners from a year ago.

More good news in the LPS data was the fact that the number of homeowners that are delinquent on their mortgages fell again in May to a rate of 6.08 percent of homeowners with a mortgage, marking a decline of more than 15 percent since the end of 2012, the largest year-to-date decline in the mortgage delinquency rate since 2002.

Total U.S. loan delinquency rate: 6.08%
Month-over-month change in delinquency rate: -2.11%
Total U.S. foreclosure presale inventory rate: 3.05%
Month-over-month change in foreclosure pre-sale inventory rate: -3.91%
States with highest percentage of non-current* loans: FL, NJ, MS, NV, NY
States with the lowest percentage of non-current* loans: MT, AK, WY, SD, ND

Source: LPS

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