Roughly 22.1% of all residential properties – 10.7 million units — encumbered by a mortgage were in a negative equity position at the end of September, a slight decline from mid-year, according to new figures compiled by CoreLogic, Santa Ana, Calif.

The analytics firm noted that an additional 2.4 million borrowers had less than 5% equity at the end of 3Q11, a category it calls “near negative equity.”

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