In a new poll conducted by Harris Interactive, a prominent firm in the market research industry, approximately 22% of all homeowners have trouble getting their mortgage payments in on time. An additional 7% are able to meet their deadline, but have difficulty doing so.
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Harris Interactive also found that approximately 21% of homeowners wonder if their mortgages are in the underwater category. This term is used to describe homes that are so devalued their mortgages do not cover the amount owed. As the economy continues to sour, a greater number of homeowners are beginning to meet such a classification.
The poll also revealed that mortgages are declining. In 2010, 69% of adults possessed mortgages; in 2011 that figure dropped to 66%. This indicates two trends: people are not only losing their homes, but they are also failing to buy anything new. This is despite the fact that there are a greater number of cheap homes on the market.
However, when it comes to individuals experiencing difficulty with their mortgage payments, there is a decline between the figures obtained in 2011 and the ones acquired in 2010.
Unfortunately, Harris Interactive feels it is too early to determine whether there was genuine improvement. foreclosure could be a prominent reason as to why the stats are getting lower.
Even still, the stats do indicate a somewhat slow recovery. This is because they match additional data Harris Interactive collected in another study.
In terms of numbers, 3,171 adults were polled during this latest study regarding mortgage payments. The poll occurred in March of 2011, and it lasted 7 days. Researchers did not calculate the possibility of error because all of the respondents participated of their own free will. No payment or other incentives were given, which further solidifies the truthfulness of the data. Respondents answered each question out of their own volition.