Negative equity often paired with high interest-rate mortgages

Negative equity often paired with high interest-rate mortgages

The vast majority of Americans with mortgages worth more than their homes are also stuck with high-interest-rate loans, putting them in precarious financial situations, according to data out last week.

A total of 10.9 million homes with a mortgage were in a negative-equity position at the end of the second quarter, making up 22.5 percent of all residential properties with a mortgage, according to Santa Ana, Calif., research firm CoreLogic. That was a slight decline from 22.7 percent during the first three months of the year.

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