According to a recent CoreLogic report, 13 percent or 6.4 million homes are still underwater or have negative equity. The number seems to be improving with rising home prices.
Underwater Mortgages
Five states accounted for more than one third of the underwater homes nationally.
· Nevada 32.2%
· Florida 28.8%
· Arizona 22.5%
· Ohio 18%
· Georgia 17.8%
Another interesting CoreLogic observation was that 20.4% are under equated—meaning their ownership stake is less than 5%. CoreLogic found that 92% of homes worth $200,000 had equity and that only 82% of homes worth less than $200,000 had equity.1/14/2014