Lenders Should be Forced to Cut Mortgages, Poll Shows

Destin, FL – May 8, 2012 – (RealEstateRama) — For the second time in less than a year, respondents to a Housing Predictor poll say that banks and other mortgage lenders should be forced to reduce mortgage principal and cut loan payments for underwater homeowners.

Respondents to the online poll were in favor of principal reductions by a resounding 60% of those polled. The remaining 40% said bankers should not be forced to reduce mortgages.

The new survey shows that Americans feel lenders should pay the price for throwing the U.S. economy into chaos. Respondents were in favor of reducing mortgage principal in the exact same poll question when it was asked last November astoundingly by the exact same margin, demonstrating how strongly respondents feel about the subject, despite Congress inability to take action on the issue.

Housing Predictor regularly surveys consumers on issues closely related to the real estate industry, monitors and issues forecasts on more than 230 U.S. cities housing markets and offers the latest mortgage rates and real estate news.