Are you struggling to make your mortgage payments on time? If so, a new Harris Interactive poll reveals that you are not alone. The poll, conducted over a 7 day period in March 2011, found that 7% of homeowners had problems making their mortgage payments on time, even though they were able to meet the payment deadline. An additional 22% of the homeowners admitted to having trouble paying on time, so much trouble that they were not able to meet the payment deadline for their mortgages.
The only positive news is that these numbers have decreased since 2010. Harris Interactive states that it is too early to see if these numbers might be showing a positive trend in the housing market and economy. Foreclosure might be one reason that these numbers were lower in 2011 than 2010 . Harris Interactive did a similar study that supported the data in this poll, leading them to think that we are on the path of a slow economic recovery.
This poll also found that around 21% of homeowners are concerned as to whether or not their house is worth less than what is owed on their mortgage, also known as being underwater in their mortgage. Since the downward spiraling of the economy, more and more homeowners have found that their mortgages far exceed the current value of their homes. This can be quite surprising news for many homeowners who bought their homes when the housing market was in a boom.
Disturbingly, the Harris poll also found that the number of mortgages are on the decline. In 2011, 66% of adults had a mortgage, down from 69% in 2010. These numbers show us that Americans are losing their homes, and not only that, there aren’t enough new mortgages to make up for the ones that are being lost.
The possibility of error was not calculated in this poll in which 3,171 adults participated in. All of the adults polled did so at their own free will. The participants were not awarded with incentives or payment for completing the poll. These facts add to the credibility of the respondents’ answers.