In a poll that was recently conducted by Harris Interactive, a major firm in the industry of market research, about 22% of all homeowners experience difficulty in turning their mortgage payments in on time. Additionally, another 7% of all homeowners have the ability to meet their deadlines, however, they find this difficult to do.
Harris Interactive also discovered that about 21% of these same individuals are curious as to whether or not their mortgages are categorized as being underwater. This is a term that is commonly used to describe residential properties that have been devalued by their mortgages so much that they no longer cover the amount that is owed. As there is a continual decline in the state of the economy, more and more homeowners are beginning to fit this classification.
This poll has additionally brought to light the fact that mortgages are declining. In the year 2010, 69% of adults had mortgages, while in 2011, this number fell to just 66%. This reveals two trends: in addition to people losing their properties there is also evidence that shows that they are not purchasing anything new. This information comes in spite of the fact that there are more cheap homes currently available.
When it comes to homeowners having a rough time with their mortgage payments, however, there has been a decrease in numbers collected in 2011 and those that were obtained in 2010.
Unfortunately, Harris Interactive has stated that it is too soon to know whether or not this improvement is indeed genuine. Foreclosure could be one major reason why these numbers have dropped.
Nevertheless, statistics have revealed a bit of recovery, albeit a slow one. This due to the fact that they compare data with another study that was also performed by Harris Interactive.
3,172 consumers were polled in this most recent study concerning mortgage payments. The poll lasted seven days throughout the month of March 2011. This research does not account for the likelihood of error, due to the fact that all participants took part of their own volition. These individuals were not offered payment or any other incentives, which further validates the truthfulness of the information that has been collected. Participants supplied answers to every question of their own free will.