The number of homeowners in the Sacramento region underwater on their mortgages declined slightly during the second quarter, according to Santa Ana-based real estate tracker CoreLogic.
CoreLogic said 181,569 properties, or 37.5 percent, with mortgages in the capital area had negative equity during the latest quarter, an improvement from the first quarter's 200,413, or 39.8 percent.
Negative equity, also referred to as being underwater or upside down, means that borrowers owe more on their mortgages than their homes are worth.
Nationally, 10.8 million, or 22.3 percent, of all residential properties were in negative equity at the end of the second quarter, down from 11.4 million, or 23.7 percent, in the first quarter.
Among all states, Nevada had the highest percentage of mortgaged properties in negative equity at 59 percent.
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