The share of Colorado homes with mortgage balances of more than the home is worth declined slightly in the first quarter.
A report from data provider CoreLogic Thursday said that 20.7 percent of the state’s mortgages were “underwater” in the first quarter. That was down from 21.97 percent of mortgages in the state that were underwater in the first quarter of 2011.
Colorado ranked 15th among states with the highest percentage of properties underwater.
In the Denver-Aurora-Broomfield area, 22.7 percent of all properties with a mortgage were underwater in the first quarter.
Statewide, an additional 6.9 percent of properties were in “near negative equity” during the first quarter of 2012. Near negative equity is defined as properties within 5 percent of being underwater.
