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Thursday, April 17, 2014

Rising Home Prices Help Nearly Two Million Homeowners' Mortgage

A year earlier, about 10.9 million, or 26% of homeowners were in serious debt on their home. According to RealtyTrac, the number of homeowners underwater have dropped to about 9.1 million (17%) during the first quarter. Being underwater usually equates to their debt exceeding the home's value by 25% or more.

Daren Blomquist, a vice president for RealtyTrac, believes that many of the homeowners in the foreclosure process actually have positive equity due to surging home prices. This allows flexibility in their options of refinancing or selling their home.

Read the full article at CNN Money.

Related: How To Be A Mortgage Broker

With home prices rising, home buyers will need mortgage brokers to shop the best plans for them. Ashton Agency currently issues the Mortgage Broker Bond for California and Arizona mortgage brokers. Call or click today to get your free quote within one business day!

To obtain your Mortgage Broker Bond, visit our website at or call (800) 452-2663.

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