The number of “underwater” Orange County homes dwindled to 1.6 percent of all residences with a mortgage, the latest sign of how far the local housing market has come from the peak of the foreclosure crisis, CoreLogic's latest report on home equity showed. The report, released Thursday, found that 8,680 Orange County homes were under water in the third quarter this year that is, worth less than was owed on their mortgage.

Foreclosure News

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