A recently released report from First American CoreLogic indicates Redding has a 43 percent rate of “negative equity” properties.
That’s about average for California, but higher than 45 other states.
The report uses loan amounts from public records of first mortgages and junior liens to determine mortgage debt outstanding, and its own automated valuation system to determine property values.
It was estimated that in Redding, 13,418 properties carry loans exceeding the their value, and the total value of these properties exceeded $2.7 billion.
For the complete report, see: Negative Equity Report
