100,000 borrowers into positive equity: CoreLogic

[admin]

100,000 borrowers into positive equity: CoreLogic
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- Approximately 100,000 more borrowers reached a state of positive equity during the third quarter of 2012, to bring the number of those no longer in negative equity on their homes to 1.4 million for the year, CoreLogic said Thursday. Still, 10.7 million, or 22%, of all residential properties with a mortgage were in negative equity. An additional 2.3 million borrowers had less than 5% equity in their home. Negative equity, often referred to as "underwater" or "upside down," means that borrowers owe more on their mortgages than their homes are worth.