More Homes Fall Below Their Mortgage Value As Housing Prices Continue Downward Slide

Thursday, February 10, 2011 07:50
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More Homes Fall Below Their Mortgage Value As Housing Prices Continue Downward Slide

Tags: U.S. economy

 

 

The number of U.S. homes worth less than their outstanding mortgage jumped in the fourth quarter as prices fell.

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About 15.7 million homeowners had negative equity at the end of the year, up from 13.9 million in the previous three months, according to Zillow Inc.

The total represented 27 percent of mortgaged single-family homes, the highest in Zillow data dating to the first quarter of 2009.
 

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