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RealtyTrac: Many New York homeowners on track to resurface before 2015

Sep 05, 2013
In its U.S. Home Equity & Underwater Report for September 2013, RealtyTrac Inc. reported that while 10.7 million residential homeowners nationwide owe at least 25 percent or more on their mortgages than their properties are worth, another 8.3 million homeowners are either slightly underwater or slightly above water. This puts them on track to have enough equity to sell sometime in the next 15 months, without resorting to a short sale. 

In New York State, 268,749 homeowners have a loan to value (LTV) ratio from 90 to 110 percent, meaning they have between 10 percent positive equity and 10 percent negative equity. These homeowners represent 15 percent of all U.S. homeowners with a mortgage as of the beginning of September. 

To read the entire RealtyTrac press release, click here.

For more statistics and trends from RealtyTrac, click here.
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