Tuesday, December 14, 2010

Homeowners who are 'underwater' still dropping

Tuesday, December 14, 2010 02:51 AM
By Alistair Barr

MARKETWATCH
SAN FRANCISCO -- The number of U.S. homes with negative equity shrank in the third quarter, but price declines might threaten this improvement, the real-estate data company CoreLogic Inc. said yesterday.

CoreLogic reported that 10.8million properties, or 22.5 percent of all residences with mortgages, were in negative equity at the end of the third quarter, down slightly from 11million, or 23 percent, in the second quarter.

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Homeowners who are 'underwater' still dropping