Report: 10.4 percent of Manchester-Nashua mortgages in negative equity

CoreLogic reports a big drop from a year ago
NH Business Review Staff,

Some 10.4 percent of residential properties in the Manchester-Nashua area remained in negative equity in the first quarter of 2016, according to a new report from data analytics firm CoreLogic.

According to CoreLogic, 7,905 homes with a mortgage were in negative equity in the first quarter, compared with 10,769, or 14.7 percent, the first quarter of 2015. In the fourth quarter of 2015, 8,262, or 10.9 percent, were underwater.

CoreLogic reported that an additional 2,458 properties, or 3.2 percent, were in near-negative equity for the first quarter of 2016, compared with 2,921, or 4 percent, a year earlier and 2,477, or 3.3 percent, in the fourth quarter of 2015.

Nationally, the total number of mortgaged residential properties with negative equity stood at 4 million, or 8 percent of all homes with a mortgage in the first quarter, a drop from 4.3 million homes, or 8.5 percent, in the previous quarter. In the first quarter of 2015, 5.1 million homes, or 10.3 percent, were in negative equity.

Categories: Real Estate & Construction

More news from NHBR:

Adobestock 1684834715
Banking and Finance, Business Advice, Financial Advice

5 financial tips to growing your business

Business growth is exciting. A big contract comes through, a new customer relationship takes off or marketing is delivering the results you expected. Financing can be a critical resource to sustain the growth. But from a lender’s perspective, growth financing is about more than momentum. The real question is whether the business can support that growth — and repay the debt that may come with it.