An index that measures how many homeowners are underwater on their mortgages fell for the third consecutive quarter but the decrease was more attributed to completed foreclosures than any gain in home values.

About 10.8 million U.S. homes, or 22.5 percent of all homes with mortgages had negative equity, meaning the homeowner owed more on the mortgage than the home was worth at the end of the third quarter, data provider CoreLogic said Monday. That compares with 11 million properties, or 23 percent of all homes in the second quarter. Get the full story »