{"id":3403,"date":"2012-07-30T12:55:46","date_gmt":"2012-07-30T12:55:46","guid":{"rendered":"http:\/\/www.anthonydidonato.net\/wordpress\/?p=3403"},"modified":"2012-07-30T12:55:46","modified_gmt":"2012-07-30T12:55:46","slug":"home-owners-torn-on-mortgage-obligations-right-or-wrong","status":"publish","type":"post","link":"http:\/\/www.anthonydidonato.net\/wordpress\/home-owners-torn-on-mortgage-obligations-right-or-wrong\/","title":{"rendered":"Home Owners Torn on mortgage obligations: Right or Wrong?"},"content":{"rendered":"

Home Owners Torn on mortgage obligations: Right or Wrong?<\/h2>\n
\"Home<\/a>

Home Owners Torn on mortgage obligations: Right or Wrong?<\/p><\/div>\n

Forty-five percent of Nevada home owners recently surveyed say \u201cthere is nothing wrong\u201d with walking away on your mortgage obligations<\/strong>, according to a new report, \u201cFace of Foreclosure,\u201d released by the Nevada Association of REALTORS\u00ae. On the other hand, an equal number of home owners say home owners have a \u201clegal and ethical obligation to pay their mortgage if they can.\u201d<\/p>\n

The number of home owners who find \u201cstrategic default\u201d socially acceptable is growing in the state, which has consistently had one of the highest foreclosure rates in the country the last few years. In 2011, 23 percent of Nevada home owners who lost their home to foreclosure said they walked away from their mortgage. In 2012, 27 percent of foreclosed home owners say they strategically defaulted on their mortgage.<\/p>\n

Strategic default is when a home owner is financially able to make their mortgage payments but decides to stop, usually because the property is underwater.<\/p>\n

\u201cThis year\u2019s report shows it\u2019s more socially acceptable to strategically default on your mortgage obligations<\/em>,\u201d says Blane Johnson, NVAR\u2019s president. \u201cI hope banks and government leaders will look at this to help them get ahead of these issues.\u201d<\/p>\n

For those who decided to walk away from their mortgage, 40 percent said they had been advised by their lender or financial adviser to stop paying their mortgage so that they could qualify for more assistance with their home loan.<\/p>\n

NVAR is calling on lenders to do more to help distressed home owners, such as through refinance and loan modification programs or streamlining the short sale process so that fewer home owners will opt to walk away from their mortgage obligations<\/span>.<\/p>\n

The survey also found that despite the plague of foreclosures in the state the last few years, most Nevadans still overall favor home ownership. Nearly 80 percent of home owners surveyed who have faced foreclosure say they want to buy a home again one day, according to the report.<\/p>\n

Supplementing the report, NVAR developed a video featuring interviews with local home owners, real estate and mortgage professionals about foreclosures in the state. You can view the report and video at www.FaceOfForeclosure.com<\/a>.<\/p>\n

Source: \u201cFace of Foreclosure Report<\/a>,\u201d Nevada Association of REALTORS\u00ae (2012)<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Home Owners Torn on mortgage obligations: Right or Wrong? Forty-five percent of Nevada home owners recently surveyed say \u201cthere is nothing wrong\u201d with walking away on your mortgage obligations, according to a new report, \u201cFace of Foreclosure,\u201d released by the Nevada Association of REALTORS\u00ae. On the other hand, an equal number of home owners say … <\/p>\n

Continue reading<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16,8],"tags":[5,32,4,9],"class_list":["post-3403","post","type-post","status-publish","format-standard","hentry","category-news","category-real-estate-tips","tag-anthony-didonato","tag-news","tag-real-estate","tag-tips","item-wrap"],"yoast_head":"\nHome Owners Torn on mortgage obligations: Right or Wrong? - Real Estate Agent and Sales in PA - Anthony DiDonato Broomall, Media, Delaware County and surrounding areas in Pennsylvania<\/title>\n<meta name=\"description\" content=\"Owners Torn on mortgage obligations. 45% of home owners surveyed say \u201cthere is nothing wrong\u201d with walking away from mortgage obligations\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.anthonydidonato.net\/wordpress\/home-owners-torn-on-mortgage-obligations-right-or-wrong\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/#article\",\"isPartOf\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"headline\":\"Home Owners Torn on mortgage obligations: Right or Wrong?\",\"datePublished\":\"2012-07-30T12:55:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/\"},\"wordCount\":397,\"publisher\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/#\\\/schema\\\/person\\\/964792b6994e8cc4cbddc36ad4824908\"},\"image\":{\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/#primaryimage\"},\"thumbnailUrl\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/wp-content\\\/uploads\\\/2012\\\/07\\\/images2.jpg\",\"keywords\":[\"Anthony DiDonato\",\"News\",\"Real Estate\",\"tips\"],\"articleSection\":[\"News\",\"Real Estate Tips\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/\",\"url\":\"http:\\\/\\\/www.anthonydidonato.net\\\/wordpress\\\/home-owners-torn-on-mortgage-obligations-right-or-wrong\\\/\",\"name\":\"Home Owners Torn on mortgage obligations: Right or Wrong? 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