About 11 million U.S. homes were worth less than their mortgages at the end of 2010, according to a March report from CoreLogic, Inc., a California-based real estate and financial information company.
An additional 2.4 million homeowners had less than five percent equity in their homes, so those borrowers will be underwater with even slight price declines.
The two categories add up to 28 percent of residences with mortgages.
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