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New High: 37% Say Their Home Is Worth Less Than Remaining Mortgage Payments

Posted By admin On September 20, 2011 @ 7:36 am In Money Watch,Tile | Comments Disabled

Rasmussen [1]
Sept 20, 2011

The percentage of American homeowners whose home is worth less than what they still owe on it has hit the highest level in nearly three years.

The latest Rasmussen Reports national telephone survey of 753 homeowners finds that 37% say their home is not worth as much as what they still owe on their mortgage. Forty-seven percent (47%) say the value of their home exceeds the amount left on their mortgage. But that’s down seven points from last month [2] and is just two points above the all-time low of 45% in June.

Another 16% are not sure how their home’s value stacks up against their remaining mortgage payments. (To see survey question wording, click here [3].)

Prior to this survey, the number of homeowners saying their home is worth less that what they still owe on their mortgage has ranged from 28% to 36% in surveys since December 2008. Forty-five percent (45%) to 68% have reported that their home is worth more than what they still owe in the same period.

Full article here [1]

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URLs in this post:

[1] Rasmussen: http://www.rasmussenreports.com/public_content/business/housing/september_2011/new_high_37_say_their_home_is_worth_less_than_remaining_mortgage_payments

[2] last month: http://www.rasmussenreports.com/public_content/business/housing/august_2011/55_say_their_home_worth_more_than_what_they_owe

[3] click here: http://www.rasmussenreports.com/public_content/business/econ_survey_questions/september_2011/questions_housing_september_15_16_2011

[4] Geithner Sees “Economic Improvement” As Mortgage Delinquencies Hit All Time High: http://www.prisonplanet.com/geithner-sees-economic-improvement-as-mortgage-delinquencies-hit-all-time-high.html

[5] U.S. Housing Prices Tumble on Home Mortgage Scarcity: http://www.prisonplanet.com/us-housing-prices-tumble-on-home-mortgage-scarcity.html

[6] One in Ten Mortgage Borrowers Will Lose Their Home To The Bank: http://www.prisonplanet.com/one-in-ten-mortgage-borrowers-will-lose-their-home-to-the-bank.html

[7] Couple Lives In $1.3 Million, 4,900 Square Foot Home For Five Years Without Making A Single Mortgage Payment: http://www.prisonplanet.com/couple-lives-in-1-3-million-4900-square-foot-home-for-five-years-without-making-a-single-mortgage-payment.html

[8] JPMorgan Instructs Homeowners To Stop Making Payments Then Takes Their Homes: http://www.prisonplanet.com/jpmorgan-instructs-homeowners-to-stop-making-payments-then-takes-their-homes.html

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