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Corelogic (R) Reports 1.4 million borrowers returned to “positive equity” Year to date through the end of th e third quarter 2012

January 31, 2013 Comments off

CoreLogic ® Reports 1.4 million borrowers returned to “positive equity” Year to date through the end of the third quarter 2012 (PDF)

Source: CoreLogic

CoreLogic, a leading provider of information, analytics and business services, today released new analysis showing approximately 100,000 more borrowers reached a state of positive equity during the third quarter of 2012, adding to the more than 1.3 million borrowers that moved into positive equity through the second quarter of 2012. This brings the total number of borrowers who moved from negative equity to positive equity September YTD to 1.4 million. 10.7 million, or 22 percent, of all residential properties with a mortgage were in negative equity at the end of the third quarter of 2012. This is down from 10.8 million properties, or 22.3 percent, at the end of the second quarter of 2012. An additional 2.3 million borrowers had less than 5 percent equity in their home, referred to as near-negative equity, at the end of the third quarter.

Negative equity, often referred to as “underwater” or “upside down,” means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.

Together, negative equity and near-negative equity mortgages accounted for 26.8 percent of all residential properties with a mortgage nationwide in the third quarter of 2012, down from 27 percent at the end of the second quarter in 2012. Nationally, negative equity decreased from $689 billion at the end of the second quarter in 2012 to $658 billion at the end of the third quarter, a decrease of $31 billion. This decrease was driven in large part by an improvement in house price levels.This dollar amount represents the total value of all homes currently underwater nationally.

Categories: business and economics, consumer issues, CoreLogic, housing and real estate

2012 CoreLogic Storm Surge Report Reveals More Than Four Million U.S. Homes at Risk for Hurricane Storm Surge Flooding

August 28, 2012 Comments off

2012 CoreLogic Storm Surge Report Reveals More Than Four Million U.S. Homes at Risk for Hurricane Storm Surge Flooding
Source: CoreLogic

CoreLogic (NYSE: CLGX), a leading provider of information, analytics and business services, today released its annual Storm Surge Report detailing exposure of single-family homes to storm-surge damage within several predefined geographic areas in the United States. The 2012 CoreLogic Storm Surge Report provides the first-ever property-level analysis of residential property risk along the Atlantic and Gulf Coasts broken down by region and by individual state, in addition to a snapshot of risk within previously reported major metro areas.

This year’s report indicates that just over four million homes in the U.S. along the Atlantic and Gulf Coasts are at risk of hurricane-driven storm-surge damage, with more than $700 billion in total property exposure. In the Atlantic Coast region alone, there are approximately 2.2 million homes at risk, valued at more than $500 billion. Total exposure along the Gulf Coast is nearly $200 billion, with just under 1.8 million homes at risk for potential storm-surge damage.

Categories: business and economics, CoreLogic, housing and real estate, insurance and risk, natural disasters
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