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SEATTLE – Real estate data tracking firm Zillow.com is the latest to put a dollar value on U.S. mortgage losses, reporting today that homes have lost an estimated $2 trillion in value this year. Home values declined 8.4% year-over-year during the first three quarters of this year, the report continued, with Stockton, Calif. losing the most, 32.3% year-over-year, and Merced, Calif. following close behind with 31.2%.

Even worse was the announcement that 11.7 million borrowers are upside down on their mortgages, representing one in seven homeowners.

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