There are fewer Denver-area homeowners underwater on their mortgages compared with last year, according to a new report.

That’s according to research by California-based real estate analytics company CoreLogic, which determined that only 9,245, or 1.4 percent of all Denver-area residential properties with a mortgage were in negative equity, or underwater, compared with 10,080, or 1.6 percent, a year earlier.

Underwater mortgages are those on which borrowers owe more than their homes are worth.

According to CoreLogic, only the San Francisco area has a lower percentage of underwater mortgages, at 0.6 percent.'

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