Rising values reduce number of underwater homeowners

01/15/2013 | Bloomberg Businessweek

As the housing market recovers and prices rebound, millions of homeowners are recovering equity after having been underwater on their mortgages for several years. The number of U.S. borrowers underwater fell last year to about 7 million, from a recessionary peak of 12 million. That figure could drop to 4 million by the end of next year, according to JPMorgan Chase.

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