DIP IN HOME VALUES, ROBO-SIGNING PUSH MORE BORROWERS UNDERWATER
Home values fell 2.6 percent during the last three months of 2010, posting their largest quarterly decline since the first quarter of 2009, according to Zillow. The faster pace of depreciation, combined with a slowdown in foreclosures following the robo-signing controversy, contributed to an increase in negative equity. Zillow says by the end of last year, 27 percent of single-family homeowners with mortgages owed more on the loan than their home was worth, up from 23.2 percent just three months earlier. » Read More
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