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Report: 32 percent of Illinois homes 'deeply underwater,' 3rd highest in nation
CHICAGO - A new report says almost one-third of Illinois homes are "deeply underwater" meaning that they're worth at least 25 percent less than what's owed on the loans.
The report released Thursday by Irvine, California-based RealtyTrac says that represents almost 775,000 Illinois homes. Only Nevada and Florida fare worse, with 38 percent and 34 percent of homes deeply underwater, respectively.