Underwater mortgages down 30% plus in NoCO
In Fort Collins-Loveland, 4.5 percent of homes were worth less than their mortgages or had negative equity and were classified as being "underwater" in the second quarter, compared with 6.8 percent in the first quarter of 2013, a 33 percent drop, according to data from CoreLogic, a California-based analytics firm.
Additionally, 2.6 percent of homes were near negative equity in the second quarter, compared with 4.3 percent in the first quarter of 2013.
In Greeley, 15.7 percent of residential mortgages were underwater in the second quarter, down from 22.7 percent in the first quarter of 2013, a 30.8 percent decline.
The data also show that 6.6 percent of properties were near negative equity, compared with 8.3 percent in the previous quarter.
Statewide, 9.5 percent and nationwide 14.5 percent of mortgages were underwater in the second quarter.
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