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Managed by the U.S. Department of Housing and Urban Development’s Office of Policy Development and Research (PD&R), HUD User hosts research, publications, and datasets in housing, community development, and more.






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For the second quarter of 2025, the estimated number of underwater borrowers (those who owe more on their mortgage than the value of their home) decreased by 39,000 from the first quarter of 2025 to 1.151 million borrowers, or 2 percent of residential properties with a mortgage.







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