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5.6 percent of Houston foreclosures seriously underwater, says RealtyTrac

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RealtyTrac today released its Year-End 2015 U.S. Home Equity & Underwater Report. The report found that at the end of 2015, seriously underwater properties were down 481,292 from 6.9 million in the third quarter and 616,189 from 7.1 million from a year prior.

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In Houston, 5.6 percent of foreclosed homes are seriously underwater, which is about 70,130 in the Houston-The Woodlands-Sugar Land MSA. RealtyTrac reported 306,476 foreclosures that are equity rich, or 24.4 percent.

In Harris County, RealtyTrac reported of the 1,616,961 properties, about 6 percent are seriously underwater.

On a state-wide basis, Texas had 21.6 percent of homes with equity and 6.4 percent of foreclosures are seriously underwater.