A Harris Interactive online survey from mid-May showed that 59 percent of those surveyed would not consider walking away no matter how much negative equity they had in their home.
The research was conducted on behalf of RealtyTrac and Trulia.com and surveyed 2,596 adults aged 18 and older across the U.S. Other findings according to the survey summary on the RealtyTrac website:
- Only 1 percent of homeowners with a mortgage say walking away from their home would be their first choice if they were unable to pay their mortgage;
- If their mortgage were to go “underwater,” 41 percent would at least consider walking away;
- Most consumers (95 percent) would expect to pay less for a foreclosed home than for a similar home for sale that is not in foreclosure;
- 78 percent of U.S. adults believing there are downsides to buying foreclosed properties compared to 85 percent in May 2009;
- 45 percent of U.S. adults age 18 and above are at least somewhat likely to consider purchasing a foreclosed home in the future, compared to the 55 percent one year ago;
- Renters are showing strong interest in buying foreclosed properties, with 57 percent at least somewhat likely to purchase a foreclosed home in the future.
Read the full results report here.