Palm State Mortgage brings you some optimistic news to help you celebrate Father’s Day and beyond.

It has been reported by CoreLogic and National Mortgage News that the number of underwater homes has recently decreased nearly 20%.

This is good news for the housing industry, the economy, and all of you courageous house hunters out there.

Palm State Mortgage Says:  Numbers Represent Real Lives!

Colin Wilhelm wrote in National Mortgage News that 254,000 homes regained equity in the first quarter of 2015.

Likewise CoreLogic has declared that there are now 44.9 million mortgages that are above water.  (Statistics were charted as of March 31st of this year.)

This large number reflects 90% of the total mortgaged homes.

You might be interesting to know that the number of underwater homes has actually dropped by l.2 million homes.  That’s more than just a number.

Remember that number symbolizes 1.2 million families who have steadily been recovering economically.

Palm State Mortgage wants you to know that today only 10.8 percent of all U.S. mortgaged homes are under water. This is definite improvement over the 19% of our previous year.

However, this means there is still room for more economic recovery because that number represents 5.1 million families who are still struggling with under-water homes.

Paying Mortgages In An Improving Economy

Anand Nallathambi, the president and CEO of Irvine, Calif.-based CoreLogic, stated,Helping homes get out from under water:  Palm State Mortgage

“With the economy improving and homeowners building equity, albeit slowly, the potential exists for an increase in housing stock available for sale, which would ease the current imbalance in supply and demand.”

He also figured out statistics that could reduce the number of struggling home owners:  He added, “We estimate that a further 5% appreciation in home values across the U.S. would reduce the number of owners with negative equity by about one million.”

5% seems like such a small amount for such a great harvest of home owners.  It makes Palm State want to become an economic cheer-leader, urging America to keep up the good work.

 

From the Palm State Mortgage Family to Yours:  HAPPY FATHER’S DAY

This special day, the third Sunday of June brings honor to all the father figures who have blessed our lives.

It’s a day packed with gifts, surprises and special meals for Dads all over America.  Families will be celebrating the men who have had profound influence on their lives.

Do you know the history of Father’s Day dates back to the early 1900’s?

Fathers were first formally honored on June 19, 1910 in Spokane, Washington at the YMCA.  We owe Sonora Smart Dodd for sanctifying the day officially.

She heard about Mother’s Day in 1909 and told her pastor she thought fathers should have a similar holiday.

Her father knew about the art of fatherhood. He had raised six children as a single parent.

The local clergymen agreed to Sonora Smart Dodd’s idea, and the first Father’s Day sermon was given on June 19, 1910.

Happy Father’s Day!  And Happy Summer Time House Hunting from Palm State Mortgage Company.Father's Day from Palm State Mortgage