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Obama scorecard shows home equity highest since 3Q 2008

The Housing Wire (10/6, Hilley) reported that the data indicate home "equity jumped $406 billion, or 5.9%, to $7.28 trillion in the second quarter. The number of underwater borrowers has declined by 11% since the end of last year, from 12.1 million in the fourth quarter of 2011 to 10.8 million in the second quarter." Existing home sales continued to rise, as did home prices.