Summary Box: Foreclosures thin number of US homes with mortgages higher than property is worth

Summary Box: Underwater mortgages in US fell in 2Q

SLIGHT DECLINE: Real estate data provider CoreLogic says the number of U.S. homes with mortgages that exceed what the properties are worth fell slightly between the second quarter and the first three months of this year. It’s the second consecutive quarterly decline.

FORECLOSURES: The drop was primarily due to homes being foreclosed, not home appreciation.

WORST STATES: Most underwater mortgages remain concentrated in five states: Nevada, Arizona, Florida, Michigan and California. As of June, Nevada had the highest rate, with 68 percent of its residential mortgages underwater.