Nearly 645K Chicago-area homeowners underwater on mortgages
(MCT) — Almost 645,000 homeowners in a 14-county Chicago area owed more on their mortgages than their homes were worth at the end of December, a slight increase from the third quarter, Zillow reported Thursday.
Still, the company's fourth quarter report on negative equity showed a year-over-year decrease in the percentage of homeowners with a mortgage who were underwater on their loans. Last year, 41,208 area homes moved into positive equity, Zillow found.
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