More homeowners upside down on their mortgages
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In a survey released today, close to 20 percent of all homeowners or 30 percent of those holding mortgages had to sell their home for less than what they owe. The study was published by the Pew Research Center for the People & the Press. According to the report, roughly six-in ten (61 percent) of those who say they are upside down on their mortgage are white, 12 percent are black and 18 percent are Hispanic. By comparison, 84 percent of mortgage holders who say their home would sell for at least the value of their mortgage are white, 6 percent were black and 6 percent were Hispanic. The survey also found that those who feel upside down on their mortgages report more financial strain that those who are not. A copy of the report is available at: http://pewresearch.org/pubs/1128/homeowners-mortgage-underwater E-mail entry: |
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