After the housing crisis of 2008, many homeowners found themselves “upside down” on their properties, with their mortgage balances significantly higher than the value of their home.
According to Zillow, negative equity in the US peaked 31.4% in Q1 of 2012, meaning nearly one-third of all mortgage holders in the US owed more on their homes than it was valued.
But luckily, the housing market has rebounded from the housing crisis, and homeowners have almost completely regained equity in their homes.
According to CoreLogic’s most recent Home Equity Insights report, in Q4 of 2017 only 4.9% of all mortgaged properties had negative equity, with the number of homes with negative equity dropping
21% year-over-year (from 3.2 million homes to 2.5…