Fewer U.S. homeowners owe more on their mortgages than their homes are currently worth, according to a new report from online real estate company Zillow. Nearly two million came out from underwater in 2012, and Zillow analysts estimate another one million more will see positive home equity in 2013.
Homeowners start to recover from mortgages
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The Detroit-based lender reported a GAAP net income of $291 million from January to March, its highest profit level in two years.