More Homeowners Are Open to Strategic Default

A poll conducted by Housing Predictor says that 47 percent of those surveyed would intentionally stop paying their mortgage even if they could afford to pay in order to get out from under a depreciating investment. The number of mortgage borrowers open to strategic default has risen sharply since Housing Predictor last surveyed public opinion on the issue about a year-and-a-half ago. In that poll only 36 percent of homeowners participating said they would throw in the towel should housing prices continue to drop.

The foreclosure crisis, falling home prices, and lingering doubts that the value of homes will increase in the near future are contributing to these decisions.

Housing Predictor’s results are based on responses provided by 1,000 visitors to the company’s website.