Survey Shows Banks Should Cut Mortgages

Survey Shows Banks Should Cut Mortgages

Destin, FL – March 20, 2012 – (RealEstateRama) — Banks and mortgage lenders should slash the balance on mortgages owed by all homeowners in light of the housing crisis blamed heavily on U.S. bankers, according to a new Housing Predictor survey.

The just released opinion poll found that 69% of respondents feel that lenders should help all mortgage borrowers by cutting all mortgage principal owed by borrowers.

A large group of economists who specialize in real estate say that the only way the U.S. housing market will recover from the real estate bust is to put all mortgage borrowers on a level playing field. The reduction in mortgage principal would also reduce the number of homeowners who are likely to walk away from their underwater mortgages in the next few years.

http://www.housingpredictor.com Housing Predictor provides more than 230 housing market forecasts in cities throughout the nation and regularly surveys visitors on issues of importance to real estate and offers the latest mortgage rates and real estate news.

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