The number of underwater homes dropped last quarter, CoreLogic reports, but that's because of...

|By:, SA News Editor

The number of underwater homes dropped last quarter, CoreLogic reports, but that's because of ramping foreclosures rather than any rise in values. The number of homes worth less than their debt dropped to 10.8M (22.5% of those with mortgages) from 11M (23%). But continually declining values are likely to bring even more negative equity.