Homeowners With Equity to Lose More Likely to Pay on Time

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Posted To: MND NewsWire

Increasing home prices have the additional benefit of reducing mortgage foreclosures according to CoreLogic. The company’s Loan Performance Insights report for December notes the 30+ day delinquency rate is at a 10-year low. Frank Nothaft, CoreLogic’s chief economist says “Our latest home equity report found that the average homeowner saw a $9,700 increase in their equity during 2018. With additional ‘skin in the game,’ rising equity reduces the chances of a foreclosure, helping to push the foreclosure rate down to its lowest level since at least 2000 .” The national delinquency rate was 4.1 percent in December, down from 5.3 percent in December 2017. the foreclosure inventory, loans in the process of foreclosure, has declined by 0.2 point to 0.4 percent. Later stage delinquency buckets have…(read more)

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