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Message: From GoLocalWorcester by Dan Forbes, GoLocalWorcester MINDSETTER™: While being underwater elicits visions of grandeur for beach-going vacationers, it presents a horrible situation for homeowners. Owing more on a mortgage than a property is worth limits owners’ options and leads to short sales and foreclosures. There’s some good news on the horizon, as RealtyTrac is now forecasting that the number of homes “deeply underwater” has decreased to 10.7 million. They also see 8.3 million homes moving into positive equity by the beginning of 2015. An impediment to purchasing activity might be the more stringent government backed loan limits with a higher price tag set to take place next year. This will push more and more home buyers into the private market. http://www.golocalworcester.com/business/friday-financial-fiveseptember-13th-2013
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