Soaked <$751 Billion> Nationwide

The number of American homeowners underwater (those who owe more on their mortgages than their homes are worth) increased at the end of last year.

About 11.1 million households, or 23.1 percent of all mortgaged homes, were in a negative equity position in the October-December 2010 quarter. Another 2.4 million are nearing that point now, due to high levels of foreclosure and unemployment.

While the picture isn't very pretty for homeowners here in Florida, it's not nearly as ugly as it is in Nevada where roughly two-thirds were underwater in that last quarter, the worst in the country.