Top 10 states for underwater loans

CoreLogic: 11 million owe more than their homes are worth

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An estimated 11 million U.S. homeowners owed more on their mortgages than their homes were worth at the end of June, according to a new report from data aggregator CoreLogic.

While the number of homes underwater actually declined by about 200,000 from an estimated 11.2 million in March, the biggest driver of that improvement was foreclosures, rather than price increases, CoreLogic said.