Illinois still has one of the highest concentrations of underwater mortgages, but a new report says things are slowly improving.  RealtyTrac's report says 775-thousand Illinois homeowners were "deeply underwater," meaning their homes were worth at least 25-percent less than what they owed. 

Only Nevada and Florida are ranked lower.  One piece of good news, rising home values have reduced the number of Illinois' deeply underwater homes by three percent in a year.

 

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