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Borrowers who owe more money to banks than their home is worth is slowing decreasing, however more than half of these borrowers are stuck in an underwater free fall with little to no hope of resurfacing. According to Zillow’s first quarter Negative Equity Report released today, although the negative equity rate is falling, more than half or 4 million homeowners owed the bank at least 20 percent more than the worth of their home.
Read More »Over Half of Underwater Borrowers Are Nowhere Near Re-Surfacing, Report Says
