Nearly 2M Homeowners 'Above Water' On Mortgages


Published 04/17 2014 07:21AM

Updated 04/17 2014 07:23AM

Surging home prices have helped nearly two million homeowners get back above water on their mortgages over the past year.

RealtyTrac says during the first quarter, 9.1-million homeowners were seriously underwater on their homes.

That means their debt on the home exceeded the home's value by 25 percent or more.

The figure is down from 10.9-million a year earlier.

States with the highest percentage of seriously underwater homes included Nevada, Florida and Illinois.

RealtyTrac also found that fewer properties in the foreclosure process are underwater.

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