Texas Amomng Top 20 in Negative Equity

Texas was in the top 20 states for the highest percentage of homeowners who owe more than their homes are worth, according to a new quarterly study by First American CoreLogic.

Of the 2.7 million Texas homes that had mortgages, nearly 17 percent showed negative equity at the end of the third quarter. Nationwide, 7.5 million mortgages, 18 percent of all mortgaged properties, had negative equity. The study covered about 80 percent of all mortgages, according to the mortgage data company.