March 1, 2014

Fewer Atlanta homeowners with troubled mortgages


Associated Press

— Rising home prices in the Atlanta metro area are helping homeowners who have owned more on their mortgages than their homes were worth.

The Atlanta Journal-Constitution  reports that a new study from the online real estate service Zillow shows 35 percent of metro Atlanta homeowners with outstanding loans owed more on the homes than they were worth. The study was for the fourth quarter. The 35 percent was down significantly from 54 percent a year ago.

The study says Atlanta, Orlando and Las Vegas remain the top three areas for homeowners dealing with negative equity.

S&P Case-Shiller reports that home prices in the metro Atlanta area rose more than 18 percent in 2013.