Trulia Survey Shows 59% of Homeowners won't walk away from Mortgage
A new survey just released by Trulia.com of Seattle, WA and RealtyTrac of Irvine, CA. claims 59% of homeowners say they would not walk away from their properties even though behind in monthly payments. 49% said they would at least consider walking away and leaving the property to the lender. Only 1% said they would definitely leave the keys and leave.
The survey showed a notable decrease in consumers' willingness to buy foreclosed properties compared to one year ago. Currently, 45 percent of U.S. adults age 18 and above are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 55 percent surveyed between May 1-5, 2009.
Trulia's co-founder and CEO Pete Flint said, "For every borrower who avoided foreclosure through HAMP last year, another 10 families lost their homes. It now seems clear that government programs will not reach the overwhelming majority of homeowners in trouble. Combined with decreased consumer interest around purchasing a foreclosure and it may take even longer than anticipated to see true health return to the real estate market," he postulated.
Read more about homeowner expectations and buyer reality at the article on RealEstateChannel.com. Contact me now if you are having troubles paying your mortgage and find out about your options.
Sherry Armstrong, Realtor
386-679-3191
yourkeytothebeach@gmail.com
www.sherryarmstrong.com