US DATA: CoreLogic released negative equity data…..
US DATA: CoreLogic released negative equity data showing that 10.9
million, or 22.7 percent, of all residential properties with a mortgage
were in negative equity at the end of the first quarter of 2011, down
slightly from 11.1 million, or 23.1 percent, in the fourth quarter. An
additional 2.4 million borrowers had less than five percent equity,
referred to as near-negative equity, in the first quarter. Together,
negative equity and near-negative equity mortgages accounted for 27.7
percent of all residential properties with a mortgage nationwide. In the
fourth quarter, these two categories stood at 27.9 percent.