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Negative Equity

Often referred to as “Underwater,” negative equity, as it applies to mortgages, occurs when the value of a home used to secure a loan is less than the outstanding balance on the loan.

Nearly 11 million properties nationwide had negative equity at the end of the second quarter of 2011, according to market research firm CoreLogic. For details on the number of underwater homes in your state, check out this infographic:

Find out how many homes are underwater in your state.

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