Is time the enemy of equity for chronically distressed homeowners?
Housing Wire
FEBRUARY 19, 2024
Chronically distressed properties lost more than $7,000 in total home equity on average while cycling in and out of foreclosure, according to an Auction.com analysis of more than 80,000 properties scheduled for foreclosure auction multiple times in the last three years. The chronically distressed properties cycled in and out of foreclosure for an average of 475 days, resulting in a lost equity rate of more than $5,000 a year and nearly $450 a month.
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