10.8% of all homeowners with mortgages were seriously underwater as of the third quarter of 2016.

The number of seriously underwater homeowners, or homeowners who owe at least 25% more on their mortgages than the market value of their home, has decreased by more than 854,000 since this time last year, according to the ATTOM Data solutions Q3 2016 Home Equity and Underwater Report.

6.1 million home owners were seriously underwater in the third quarter, or 10.8% of all home owners with mortgages. This is down from a peak of 12.8 million seriously underwater homes, or 28.2% of all home mortgages, in the second quarter of 2012.

Florida had the largest number of seriously underwater homeowners at 911,288, while Nevada had the highest percentage of seriously underwater homeowners at 21.5%.

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