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Post by bot on Mar 12, 2014 22:18:23 GMT -5
WASHINGTON (MarketWatch) -- In the third quarter, 791,000 more residential properties have returned to positive equity, CoreLogic said Tuesday. That still leaves nearly 6.4 million homes, or 13% of properties with a mortgage, that are in negative equity. Nevada had the highest percentage of mortgaged properties in negative equity at 32.2%, followed by Florida (28.8%), Arizona (22.5%), Ohio (18.0%) and Georgia (17.8%), CoreLogic said. Negative equity, often referred to as "underwater" or "upside down," means that borrowers owe more on their mortgages than their homes are worth.
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