Fewer Mortgage Borrowers Underwater

Fewer Mortgage Borrowers Underwater

A growing number of mortgage borrowers are keeping their heads above water.
A growing number of mortgage borrowers are keeping their heads above water.

That's according to a report from Realtytrac.

The company reports 9.3-million properties, or 19 percent of all homes with mortgages, were "deeply underwater" in December.

That's down significantly from 10.9-million properties, or 26 percent, last January.

Realtytrac defined "deeply underwater" as a borrower owing at least 25 percent more on their mortgage than the home was worth.
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