Most Wouldn´t Walk Away from Mortgage: Survey
Forty–one percent of homeowners with a mortgage would consider walking away from their home if the loan were to go underwater, meaning they´d owe more than the market value of the home, according to a survey from Trulia.com and RealtyTrac.
But 59% of borrowers wouldn´t consider walking away – no matter how much their mortgage was underwater, the same survey found.
The research, released this week, is one of the most recent looks at the growing trend of “strategic default,” in which a homeowner stops making mortgage payments, even if he or she has the means to pay. Nearly 1,700 homeowners participated in the survey.
According to the survey results, 1% of homeowners with a mortgage say walking away would be their first choice if they were unable to pay their home loan... Read More
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