The number of mortgages with negative equity fell nearly 2% in the third quarter from the previous quarter mostly due to foreclosures, according to a CoreLogic report issued Monday morning.The third quarter report shows there are 10.8 million single-family loans or 22.5% of all mortgages under water, compared to 11 million in the second quarter. 

"This is primarily due to foreclosures of severely negative equity properties rather than an increase in home values," CoreLogic's chief economist Mark Fleming said. 

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