The FINANCIAL — One-in-seven homeowners (14%) say they are at least somewhat likely to miss or be late with a mortgage payment in the next six months.
A new Rasmussen Reports telephone survey of homeowners shows that four percent (4%) say it is Very Likely that they will miss or be late with a payment, while 10% say it is Somewhat Likely.
Most homeowners (90%), however, say they have not missed or been late with a payment in the past six months.
The overwhelming majority of homeowners are not very concerned about missing a payment in the near future either. Eighty-four percent (84%) say they are unlikely to miss a payment in the next six months, with 41% who say it is Not Very Likely and 43% more who say it is Not At All Likely.
These numbers are little changed from May.
Over one-third of current homeowners say they owe more on their mortgage than their home is worth, and outlooks for the housing market in the short and long-term are growing more pessimistic.
The survey of 710 Adult Homeowners was conducted on July 7-8, 2010 by Rasmussen Reports. The margin of sampling error is +/- 4 percentage points with a 95% level of confidence. Field work for all Rasmussen Reports surveys is conducted by Pulse Opinion Research, LLC. See methodology.
Among all Americans, 64% believe that if someone cannot afford to make increased mortgage payments, they should sell their home and find a less expensive one. This belief has been consistently high for some time now. Twenty-three percent (23%) believe it is better for the government to assist troubled homeowners in making their payments.
The percentage of homeowners who have missed or been late with a mortgage payment in the past six months is slightly higher among those who earn $20,000-$60,000 a year. Likelihood of missing or being late on a payment in the next six months is highest among those with annual incomes of $40,000 or less.
Democrats are twice as likely as Republicans and adults who are not affiliated with either major party to think it is better for the government to assist with mortgage payments than to force a homeowner to sell and buy a cheaper home.
Support for government help on mortgage payments is highest among those who earn less than $40,000 annually.
President Obama's mortgage assistance program is currently winding down, but from the start Americans have been slightly more skeptical of the program than favorable toward it.
Sixty-one percent (61%) of Americans say it is better for the economy for the government to stay out of the housing market.