Number of Underwater Homeowners Declines
Seattle, WA, Aug. 23, 2012 -- The number of underwater homeowners declined in the second quarter, according to a online real estate firm Zillow.
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The number of homeowners who owe more than their home is worth dropped to 15.3 million from 15.7 million in the first quarter, Zillow said.
Nearly half, or 48%, of all mortgage borrowers under age 40 are underwater, about twice the rate of borrowers who are older.