The number of "underwater" homeowners grew by about 400,000 during the final three months of 2011, to 11.1 million, as home prices fell as a result of seasonal declines and a slowdown in processing homes through the foreclosure process, data aggregator CoreLogic said today.

CoreLogic said 22.8 percent of all residential properties with a mortgage were in negative equity at the end of the fourth quarter of 2011, compared to 22.1 percent at the end of September.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top