5.7 percent of R.I. mortgages underwater in Q3

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IN THE THIRD QUARTER in Rhode Island, 5.7 percent of homeowners with mortgages were in negative equity. / COURTESY CORELOGIC
IN THE THIRD QUARTER in Rhode Island, 5.7 percent of homeowners with mortgages were in negative equity. / COURTESY CORELOGIC
PROVIDENCE – In the third quarter of 2018, 5.7 percent of all homeowners with mortgages in Rhode Island had negative equity, a 1.8 percentage-point decline year over year. The decline in negative equity, which occurs when the value of a mortgage is greater than the value of the home, was accompanied by an average equity…

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