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Report: 17% Boston Area Homeowners ‘Underwater’

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File image (credit: AP)

File image (credit: AP)

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BOSTON (CBS) – A new report says about 17-percent of Boston area homeowners are “underwater,” which means they have a mortgage balance that’s greater than their home’s value.

A year ago that rate was 11.7 percent, according to Zillow.

Lisa van der Pool of the Boston Business Journal reports.

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