More Americans Say They Are Comfortable Walking Away From Debt, Report Says
Consumers have been making great strides in recent months to cut delinquent payments to credit card companies and mortgage lenders.
However, a new report suggests more consumers may be open to walking away from unpaid mortgage debt.
In a recent consumer poll, by custom market research company Harris Interactive, 48 percent said they would consider leaving an underwater mortgage debt unpaid, the company says. This represents a 7 percent increase since a similar survey was conducted in May. In that survey, only 41 percent said they would consider this action.
The company also found that men were more likely than women to express a willingness to leave behind this debt. In the poll, 57 percent of men and only 40 percent of women said they would consider defaulting on mortgage payments.
In addition, two-thirds said they would attempt to refinance loans to cut debt. By comparison, only 10 percent said they would rent a room or allow a tenant to live in their house in order to do so.
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