The number of borrowers in Baton Rouge who owed more on their mortgages than their homes were worth in the final quarter of 2012 exceeded the number in that position in the third quarter, according to a new report from CoreLogic released this morning. Approximately 11,018 residential properties in Baton Rouge were “underwater” at the end of 2012—or about 13.9% of all residential properties with a mortgage—according to the report. That’s up from 10,769 properties in the third quarter of last year, or about 13.7%. An additional 5% of homes with a mortgage in Baton Rouge, or 3,964 properties, were in “near negative equity” in the fourth quarter. That’s also up from 4.7%, or 3,680, in the third quarter, according to the report. Nationwide, the percentage of borrowers with homes underwater fell to 21.5% in the fourth quarter, down from 22% in the third quarter. You can access the complete report here.
Number of B.R. homes ‘underwater’ rose in 4Q of 2012
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