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Lots of other national field service providers talk about quality ... But ask them about their claims against their liability insurance ... And they get that NFN keeps clients afloat with its stellar record of ZERO claims last year. RISK IS A SERIOUS MATTER. Let National Field Network navigate the treacherous waters of default for you. sinking feeling. National Field Network 4581 Route 9, Suite 100 Howell, NJ 07731 732-276-5563 www.NationalFieldNetwork.com HOUSEHOLD NET WORTH GROWTH SLOWS IN Q2 Household net worth improved $1.3 trillion in the second quarter—half as fast as the first quarter—as real estate values grew $626.7 billion, the Federal Reserve reported Wednesday in its quarterly Flow of Funds report. But, with a drop in mortgage debt— including home equity loans and lines of credit —from $9.39 trillion in the first quarter to $9.34 trillion in the second, homeowner equity grew to 49.8 percent in the second quarter from 48.1 percent in the first. Household investment in the stock market grew $265 billion in the second quarter compared with $929 billion in the first when overall net worth grew $2.8 trillion. Owners' equity as a percentage of real estate value has been on a steady upward trajectory since dropping to 36.3 percent in the first quarter of 2009. It rose to 45.4 percent at the end of 2012 and to 48.1 percent one quarter later. The 2.7 percentage point increase in the first quarter of this year is the fastest quarterto-quarter growth this century. Even with the increase, though, the equity percentage remains sharply lower than 57.7 percent in 2000. After falling $223 billion in the first quarter, disposable personal income grew $98.6 40 billion in the second. The first quarter drop reflected the rollback of the cut in payroll taxes which ended January 1. With the increase, second quarter disposable personal income— essentially after-tax income—was $12.39 trillion, about $130 billion less than the record $12.52 trillion in the fourth quarter last year. Consumer borrowing—non-real estate debt—grew $41.7 billion in the second quarter after increasing just $104 million (cq) in the first. Residential mortgage debt fell $41.8 billion in the second quarter after dropping $49.7 billion in the first. Residential mortgage debt has dropped for 21 consecutive quarters from a peak of $10.67 trillion in the first quarter of 2008. All in, household assets grew $1.3 trillion in the second quarter—compared with $2.8 trillion in the first—to $88.4 trillion. KNOW THIS The Federal Housing Finance Agency recorded its 19th straight month of increasing home prices in August. REALTYTRAC RELEASES OCCUPIED REO REPORT The housing market is transitioning away from a rebound driven primarily by speculative forces to one where the underlying fundamentals will be much more important according to RealtyTrac. Over the past several years investor purchases have been the primary driver of the housing recovery, helping clear inventories of foreclosed and lender-owned properties and raising home prices. Home prices, which tumbled 33.7 percent from peak to trough using the S&P/Case-Shiller Home Price Index, have since rebounded 16.3 percent and are up 12.4 percent over the past year alone. The swing in prices exaggerates the extent of improvement and likely reflects the whipsaw effect of prices overshooting to the downside during the worst of the housing bust. An estimated 47 percent of bank-owned homes nationwide are still occupied by the previous owner who was foreclosed on. The percentage was higher in some states and metros as you can see from the attached data. Data shows that 20 percent of all homes in foreclosure nationwide have been vacated by the homeowner.