Short sale dynamics -- short sales recorded the highest number of transactions in three years during the first part of 2012. What data do we have on short sales with second mortgages?

2012-08-04 — doctorhousingbubble.com

Short sales are a big part of the housing market in 2012. In the first quarter, over 133,000 homes were sold via the short sale route (the highest in 3 years). Of homes entering foreclosure 39 percent have second mortgage yet only 4 percent of completed short sales have second mortgages. Why? The average negative equity of underwater homeowners is $82,000 for second-lien home owners and $47,000 for single-mortgage properties

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