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Number of 'underwater' homes declines slightly

The number of underwater homeowners in the U.S. declined slightly during the first three months of the year. The decline in the number of borrowers owing more on their mortgages than those properties are worth occurred despite falling home prices,...
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The number of U.S. homeowners who owe more on their homes than they are worth declined to about 6.4 million in the third quarter of 2013, an 11% drop from the previous quarter, a report released Tuesday found. 

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11.4 million or 23.7 percent of all residential properties with a mortgage were in negative equity – when borrowers owe more on their mortgages than their property is worth – according to a new report by Corelogic. This is down from...

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