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U.S. ‘Underwater’ Homeowners Increase to 28.6%, Zillow Reports

The number of U.S. homeowners who owe more than their properties are worth climbed in the third quarter as lenders repossessed fewer houses, Zillow Inc. said.

The share of borrowers with negative equity rose to 28.6 percent, up from 26.8 percent in the second quarter and 23.2 percent a year earlier, the real estate data provider said today. Last quarter’s portion was the biggest since Seattle-based Zillow began tracking the measure in the first quarter of 2009, when 22.3 percent of households were underwater.