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TH E M R EP O RT | 51 O R I G I NAT I O N S E R V I C I N G DATA G O V E R N M E N T S E C O N DA R Y M A R K E T DATA AROUND THE U.S. Staying Afloat: Negative Equity Snapshot H omeowner equity improved over the first three quarters of 2016 to lev- els not seen since before the recession, according to the Black Knight Financial Services Mortgage Monitor for November 2016.. The report found that 4.4 percent of homeowners, or 2.2 million, were in negative equity—the fewest since early 2007—and roughly 1 million homes returned to positive equity over the first three quarters of 2016. This has created $4.6 trillion in available equity, or nearly $118,000 available per borrower. This is the highest market total and highest average per borrower total since 2006 and is within 6 per- cent of peak totals. "There are now over 39 million borrowers with tappable equity, meaning they have current combined loan-to-value ratios of less than 80 percent," the report stated. Despite these strides, borrowers in three states in particular are likely to find themselves underwater. Nevada, Missouri, and New Jersey, all have negative equity rates more than twice the national average, he said. Atlantic City leads the nation, with 23 percent of its borrowers underwater, followed by St. Louis at 20 percent. State Nevada 9.2 percent New Jersey 8.8 percent Florida 8.0 percent Illinois 7.9 percent Connecticut 7.7 percent Alabama 7.0 percent Ohio 6.7 percent Delaware 5.8 percent Michigan 5.6 percent Georgia 5.3 percent Arizona 5.0 percent Mississippi 4.9 percent Pennsylvania 4.7 percent New York 4.5 percent West Virginia 4.3 percent Wisconsin 4.3 percent Maine 4.2 percent Louisiana 4.1 percent Tennessee 4.1 percent South Carolina 4.0 percent Indiana 3.9 percent New Hampshire 3.8 percent Virginia 3.7 percent Oklahoma 3.5 percent Arkansas 3.4 percent New Mexico 3.4 percent Massachusetts 3.2 percent California 2.8 percent Kentucky 2.8 percent North Carolina 2.7 percent Iowa 2.3 percent Kansas 2.1 percent Wyoming 2.0 percent Missouri 13.1 percent Idaho 1.8 percent Minnesota 1.7 percent Washington 1.7 percent Nebraska 1.5 percent North Dakota 1.5 percent Maryland 1.4 percent Montana 1.2 percent Oregon 1.2 percent Utah 1.0 percent South Dakota 1.0 percent Texas 0.7 percent Colorado 0.6 percent Negative equity percentage