The total number of mortgaged residential properties in the U.S. with negative home equity decreased 6% in the second quarter from the prior quarter, according to CoreLogic Homeowner Equity Insights quarterly report. Conditions have improved in the Northeast, but homeowners in the West are still struggling.

Negative equity applies to borrowers who owe more on their mortgages than their homes are worth. 

Overall, just 2% of homeowners with a mortgage (1.1 million homes) had negative equity as of the second quarter. On a year-over-year basis, negative equity rose by 4% to 1.1 million homes, or details ⇒

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