heloc NJ Underwater Numbers

heloc NJ Underwater Numbers

Finally New Jersey gets to be near the bottom of a list - where being lower is better. The recent list of underwaters compiled by Core Logic in their report that came out earlier this week. Calculated Risk has a great graph from their post titled More on Negative Equity that lists the states by percentage at or near underwater. Lets take a look -

New Jersey is ranked 36th out of the 43 states that were ranked. (Core Logic did not provide data for Maine, Mississippi, North Dakota, South Dakota, Vermont, West Virginia and Wyoming.)

So lets see what the actual numbers were for New Jersey from the Core Logic Press Release -

Here is the New Jersey Mortgage Data -

Mortgages - 1,744,333
Negative Equity Mortgages - 168,915
Near* Negative Equity Mortgages - 227,923
Negative Equity Share - 9.7%
Near* Negative Equity Share - 13.1%

Total Property Value - $644,438,328,458
Mortgage Debt Outstanding - $369,710,960,300
Net Homeowner Equity - $274,727,368,158
Loan to Value Ratio - 57%

* Core Logic Defines this as properties being within 5% of a negative equity position.