More than 5 Million Homes Will be Worth Less than 75% of Their Mortgage
Feb 3, 2010 Object
About 5.1 million mortgage holders will own homes that are worth 75% or less than what they owe on their mortgages. This is the conclusion of a new study by First American CoreLogic given exclusively to The New York Times. One of the firm’s senior economists, Sam Khater, told the paper, “People’s emotional attachment to their property is melting into the air.” The most astonishing number in the study is that it would take $745 billion to get mortgages to the point where no home loans in the U.S. were underwater.
Continue reading More than 5 Million Homes Will be Worth Less than 75% of Their Mortgage
More than 5 Million Homes Will be Worth Less than 75% of Their Mortgage originally appeared on DailyFinance on Wed, 03 Feb 2010 05:05:00.
Filed Under: Real Estate
View original post here:
More than 5 Million Homes Will be Worth Less than 75% of Their Mortgage
Tags: a-new-study, conclusion, discretionaryspending, economy, filed-under, medicaid, million-homes-, mortgages, property, real-estate, the-conclusion, their-mortgage, today, told-the-paper, underwater mortgages
Stocks set for a mixed open as JPMorgan beats, CIT talks fail, foreclosures soar
Filed under: Company News, Economy, Investing, Earnings
U.S. stocks were poised for a mixed open Thursday morning as investors looked to take profit after Wednesday’s strong showing on Wall Street and tried to sieve through mixed signals: J.P. Morgan Chase (JPM) topped analyst estimates, but concerns over CIT Group (CIT)’s fate grew as talks failed.
Adding to negative sentiment was foreclosure data for June, indicating filings rose more than 33 percent in the month as the number of homes affected in the first half of the year was more than 1.5 million homes.
More here: Before the bell: Futures lower after JPMorgan beat, CIT’s failed talks
Stocks set for a mixed open as JPMorgan beats, CIT talks fail, foreclosures soar originally appeared on DailyFinance on Thu, 16 Jul 2009 07:50:00 EST. Please see our terms for use of feeds.
Permalink | Email this | Comments
Original post:
Stocks set for a mixed open as JPMorgan beats, CIT talks fail, foreclosures soar
Tags: a-friend-via, entry, homes-affected, market-still, million-homes-, month-as-the, most-important, received-from, showing-on-wall, sony ericsson, strong-showing, talks-failed-, topped-analyst, two-companies
