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As a nation, the U.S. currently has 1,188,502 properties currently in some stage of foreclosure according to the recent Realtytrac Foreclosure report for the month of January 2014. The nation’s negative equity share released by Corelogic (a leading property information, analytics and services provider in the United States) for the fourth quarter (most recent report in December 2013) was at 13.3%. CoreLogic’s negative equity analysis showed nearly 6.5 million homes (13.3 % of all residential properties with a mortgage) were still in negative equity in the end of the fourth quarter’s report.
CoreLogic’s negative equity for the fourth quarter has been released revealing the top 10 negative equity states. Despite Nevada being the number one state with the highest negative equity share, it has improved by a 1.8% difference since the last report.
Negative Equity is something that the nation has been battling with for a long time now, but with the help of the Home Affordable Refinance Program available today many underwater homeowners with high loan-to-values may now be eligible for a refinance on their current mortgage. Helping to reduce to a lower rate, making it more affordable so that they can make their payments on time, assisting in eliminating the rate of delinquency across the nation. However, all good things sometimes must come to an end, all underwater homeowners must act fast since the program will coming to a hault on December 31, 2015.