The number of homeowners who owe more on their mortgages than their home is worth has fallen by 42 percent since the beginning of 2012. The positive trend has resulted in 5 million fewer underwater homeowners across the nation, according to the latest housing scorecard from the U.S. Department of Housing and Urban Development and the U.S. Department of the Treasury. The monthly scorecard collects key housing data and the results of the administration’s foreclosure prevention programs. Kurt Usowski, HUD’s deputy assistant secretary for economic affairs, said the more than 40 percent drop in underwater homeowners indicates that we are moving in the right direction. The improvement is largely due to continuing gains in home prices. Recent price reports have values up more than 12 percent over the past 12 months. More here.