Survey: Nearly half would walk away from mortgages

Almost half of people surveyed by Housing Predictor say they will walk away from home mortgages if housing prices continue to drop.

January 31, 2011

 

Almost half of people surveyed by Housing Predictor say they will walk away from home mortgages if housing prices continue to drop.

The poll found that 45% of respondents said they would walk away if prices continue to decline, marking a sharp increase from the last survey in October 2009. In that poll, only 32% of respondents said they would walk. Currently, one in four homeowners owe more than their home is presently worth.

Lenders may seek recourse from private individuals to collect debts owed for mortgages. But homestead laws and other protections protect individuals from debts on home loans in some states.

Comments on: "Survey: Nearly half would walk away from mortgages"

June 2015

This Month in Custom Builder

Products

This dual convection wall oven from Jenn-Air gives users total control of the oven’s functions and performance via a mobile app on their smartphone or tablet.

Features

Three custom builders undertake the rebranding and repositioning process with quantifiable results.

Email Subscriptions