Core Logic’s latest report showed 600,000 fewer homeowners underwater in the 2nd quarter of 2012 versus the 1st. Nationally that means that 1.5% of homeowners that owed more than their home was worth at the beginning of the year could now sell it and make money or bring in nothing to close.
Nevada, Florida, Arizona, Georgia and Michigan account for 1/3rd of the negative equity in the United States. Amazingy though, the U.S, home owner is resilient, 85% of those who are underwater are still paying their mortgage on time. This expounds on the fact that with rates so low and prices starting to gain strength that now is a very good time to buy!