According to CoreLogic, the number of underwater mortgages fell from 12.1 million (25.2 percent) at the end of 2011 to 11.4 million (23.7 percent) – by the end of the first quarter of this year. However, that number is a national average, so the figure varies by state. This is a list of the seven states with the highest number of homeowners with negative equity, according to the Wall Street Journal:
Nevada: 61.2%
Florida: 45.1%
Arizona: 43.4%
Georgia: 37.2%
Michigan: 35.6%
California: 30.5%
Illinois: 28%
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