Industry NewsNews Brief

RealtyTrac rolls out net equity tool

New features could help agents, buyers identify red flags
Published on Apr 6, 2011

Foreclosure data site RealtyTrac has launched a tool that estimates the negative equity of a home in the foreclosure process, the site announced Tuesday.

The site's new feature estimates a home's equity by comparing the amounts of outstanding loans on the home and the home's estimated market value. Users can also search for homes with equity in a certain range -- positive equity of $10,000 to $50,000, for example. Search options also allow users to choose a date range for homes that are coming up for auction.

A "loans and history" tab on a property's details page shows the numbers behind the net equity calculation, a home's loan-to-value ratio, a list of outstanding loans on the property and the position of those loans.

While equity and loan-to-value ratios are available in search results without signing in, loan history information is only available to subscribers who log in or non-subscribers who sign up for a free seven-day trial.

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