In the fourth quarter of 2012, about 200,000 residential properties transitioned out of a state of negative equity, bringing the 2012 yearly total to 1.7 million properties,CoreLogic reported Tuesday.
According to the data provider, there were still 10.4 million homeowners who were underwater as of the end of Q4; the figure represents 21.5 percent of all residential properties with a mortgage. At the end of Q3, the total stood at 10.6 million properties, or 22 percent of all mortgages.
Out of the 10.4 million properties in negative equity, 1.8 million have a loan-to-value (LTV) ratio between 100 and 105 percent. 'Owning a home is at the heart of most Americans' dreams,'
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