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Millions of Mortgages Underwater

SANTA ANA, Calif. -- A study released last week on negative equity shows just how bad the housing market is.

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SANTA ANA, Calif. — A study released last week on negative equity shows just how bad the housing market is.

About 18%–7.62 million–of the nation’s homes with a mortgage are underwater, according to a study released today by First American CoreLogic.

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