More Than 8 Million Equity-Backed Home Owners Resurfacing
According to RealtyTrac, the home owners have a range of 10 percent negative equity to 10 percent positive equity. Home owners with low equity may face challenges in selling a home due to the cost of the sale and having a down payment on a new home. As equity rises, more home owners are in the position to sell their home without having to resort such actions as a short sale.
The report also notes that one in four home owners in foreclosure also were found to have positive equity.…