In the Orlando-Kissimmee-Sanford metropolitan statistical area, 25.7 percent of all residential properties with a mortgage, or 118,366 homes, were in negative equity as of fourth-quarter 2014, CoreLogic reports.
That compares with 31.4 percent, or 146,187 properties, in fourth-quarter 2013, and 26.3 percent, or 121,096 properties in third-quarter 2014.
Nationwide, 172,000 homes slipped into negative equity in the fourth quarter of 2014 from the third quarter, increasing the number of mortgaged residential properties underwater to 5.4 million, or 10.8 percent of all mortgaged properties. Compared to the year-ago quarter, 6.6 million homes, or 13 percent, were underwater.
Negative equity, often referred to as "underwater" or "upside down," means that borrowers owe more on their mortgages than their homes are worth. Negative equity can occur because of a decline in value, an increase in mortgage debt or a combination of both.
Other highlights from the fourth-quarter report:
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