Underwater mortgages decline across South Florida

Rising home prices across South Florida are helping more owners escape “underwater” mortgages, a new report shows.

In the first quarter of 2015, 17.4 percent of all mortgaged homeowners in Palm Beach, Broward and Miami-Dade counties owed more than their properties were worth, down from 24.9 percent a year earlier, according to real estate website Zillow.com.

The so-called negative-equity rate has declined in the tri-county region on an annual basis in every quarter since early 2012.

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