Nearly 40 percent of all residential properties in the United States, both owner-occupied and rental units are not mortgaged but are owned free and clear, a Housing and Urban Development and U.S. Census Bureau study revealed today. The new report, Residential Finance Survey: 2001, also said that because of the refinance boom and residential mobility, 60 percent of all mortgages in the United States for single-family properties originated within the four years prior to the survey. The survey looks at all privately owned, non-farm properties and all sources of mortgage financing. Data collection involved interviews with the owner-occupants and owners of rental properties with further data collection from the holders of the mortgage loans. The source for estimates in the report, the Surve...
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