Another one million previously underwater homes are now above the water line. ATTOM Data Solutions released its 2016 Year End Home Equity and Underwater Report that shows just 5.4 million properties are still seriously underwater.
While 5.4 million properties still underwater sounds like a large number, it's a big improvement from the first quarter of 2012 when ATTOM first began tracking. At that time, there were 12.5 million properties considered "seriously underwater".
A property is seriously underwater when the loan amount is 25% higher than the market value of the home. The 5.4 million homes that are underwater right now represent 9.6 percent of all U.S. properties with a mortgage.
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