Underwater Homeowners Gaining Traction

By Richard Davies

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While the housing recovery is real there is still plenty of pain for homeowners who have been underwater with their mortgages since the collapse of the market six years ago. A new report out today says 10.7 million US households owe at least 25 percent more on their mortgages than their properties are worth. But Darren Blomquist, vice president at the listings firm RealtyTrac, says the findings also show that the recent rise in home prices in most markets is helping many homeowners improve their equity stake. “Steadily rising home prices are lifting all boats in this housing market and should spill over into more inventory of homes for sale in the coming months.”

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