Nearly 10 million homes upside down

First American releases state-level analysis

More than 7.5 million single-family homes are worth less than their mortgages, and another 2.1 million were very close to being upside down at the end of September, according to an analysis by First American CoreLogic.

First American CoreLogic used automated valuation models to analyze its huge database of public records and produce what it claims is the industry’s first state-level assessment of households with negative equity (click to download spreadsheet).