Estimated reading time: 0 minutes, 28 seconds

Borrowers Are Underwater on 8% of Homes Bought This Year

Buyers of about 8% of homes purchased with a mortgage in the first nine months of 2022 already owe more than the value of their house, a Black Knight analysis has found. So reports Yahoo! Finance.

house 167734 640smallThat’s 270,000 buyers, out of an overall 450,000 borrowers who were underwater in the third quarter, according to Black Knight.

“A clear bifurcation of risk has emerged between mortgaged homes purchased relatively recently versus those bought early in or before the pandemic," Ben Graboske, president of Black Knight data and analytics, said in a statement. 

Read the full article from Yahoo! Finance.

Read 570 times
Rate this item
(0 votes)

FOLLOW US

PMG360 is committed to protecting the privacy of the personal data we collect from our subscribers/agents/customers/exhibitors and sponsors. On May 25th, the European's GDPR policy will be enforced. Nothing is changing about your current settings or how your information is processed, however, we have made a few changes. We have updated our Privacy Policy and Cookie Policy to make it easier for you to understand what information we collect, how and why we collect it.