Slightly fewer Miami Homes Valued less their Loan Amount
Nearly half of the owners of Miami homes in the Miami-Fort Lauderdale metropolitan area were valued for less than the mortgages owed against them.
According to a new report from web-based real estate services firm, out of 387,157 homes, 46% percent of homeowners were underwater at the end of September 30, compared to 47% in the second quarter.
The firm said that nationally, 21% of homeowners were underwater as of September 30, down from 23% in the second quarter, as values of Miami homes stabilized in the short term and more underwater borrowers lost their Miami homes to foreclosure.
Full Article...Miami homes, South Beach Real Estate
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