by Steve Sinovic /Albuquerque Journal Staff Writer
In more good news for the real-estate market, thousands of Albuquerque-area residents have regained equity in their homes.
At the end of last year, 5.3 percent of all residential properties with mortgages in the metro area, or 9,359 homes, were in negative equity. That compares to 9.5 percent in December 2015, or 16,701 homes, according to home-equity data from CoreLogic. Having negative equity, often referred to as being “underwater” or “upside down,” applies to borrowers who owe more on their mortgages than their homes are worth. Negative equity, one of the long shadows cast by the housing bubble, can occur because of a decline in home value, an increase in mortgage debt or both.