Let the financial waterboarding cease. As home values rise and the flood of foreclosures recedes, Palm Beach County’s share of “seriously underwater” homeowners continues to decline.
Only 17.8 percent of Palm Beach County homeowners had loans for more than 125 percent of their homes’ value at the end of 2015, RealtyTrac said Thursday. Three months earlier, 20 percent of Palm Beach County homeowners were struggling for the surface.
Florida still has a problem with underwater borrowers. The state trails only Nevada and Illinois in the share of upside down borrowers. But Florida’s equity-rich borrowers now outnumber the seriously underwater contingent.