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Borrowers in TX, HI Have Best Equity Positions

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A bigger share of borrowers in the Lone Star State are in a positive-equity position than in any other state. Borrowers in the Aloha State have the highest proportion of equity.

Average U.S. loan-to-value ratios were 59.0 percent in the second quarter, subsiding from 60.8 percent during the prior period.

Americans have improved their collective position even more substantially compared to the year-earlier period, when LTVs averaged 62.8 percent.

CoreLogic Inc., the curator of the numbers, outlined its findings in the Core Logic Equity Report Second Quarter 2014.

The average LTV ratio in Hawaii was 46 percent, lower than in any other state. New York’s was slightly higher at 47 percent.

California’s 52 percent was third-best, then nearly 53 percent in the District of Columbia and more than 53 percent in Massachusetts.

In Nevada, the average LTV exceeded 75 percent — the worst of any state. More than a quarter of Silver State borrowers were in a negative-equity position, also the highest share among its peers.

Almost a quarter of Florida’s borrowers were upside down, while the share was 19 percent in Arizona, more than 15 percent in Illinois and nearly 15 percent in Rhode Island.

Of all Texas borrowers, more than 97 percent had positive equity — the most of any state.

Nearly 97 percent in Alaska were in the black. Montana had a more than 96 percent ratio, while exactly 96 percent of borrowers had equity in Hawaii and North Dakota.

CoreLogic said its findings were based on 49 million monitored loans for $8.686 trillion in the second quarter. It’s database “accounts for more than 85 percent of all mortgages in the U.S.”

Monitored outstandings expanded by $50 billion from the first quarter of this year and have grown by more than $200 billion from the second quarter of last year.

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