TITLE

State-Level Information on Negative Home Equity and Loan Performance in the Nonprime Mortgage Market

AUTHOR(S)
Shear, William B.
PUB. DATE
June 2010
SOURCE
GAO Reports;6/14/2010, p1
SOURCE TYPE
Government Documents
DOC. TYPE
Article
ABSTRACT
The article discusses the decline of home prices in many parts of the U.S. which has left millions of homeowners with negative home equity which means that their outstanding mortgage balances exceed the current value of their homes. It examines the estimated proportion of nonprime borrowers with active loans that were in a negative equity position and the proportion that were seriously delinquent on their loan payments from 2006 through the end of 2009.
ACCESSION #
51837730

 

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