KIRO Radio's Tom Kelly digs deep into the Puget Sound real estate market
Real Estate

Better to rent? Delinquent borrowers still want to own

A survey conducted by Fannie Mae finds that delinquent borrowers - those late on their mortgage payments and at risk of foreclosure - are still committed to the idea of home ownership, even if they are having some difficulties with it now.

Particularly in the past year, and as home prices rise, delinquent borrowers have become more upbeat about housing, the survey showed. The survey found that the majority still believe in the financial and lifestyle benefits of home ownership.

Delinquent borrowers were asked if renting or home ownership was better for building wealth. Seventy-four percent said owning was better for building wealth. Approximately 70 percent said home ownership was also better for their overall tax situation.

Many delinquent borrowers say they've been unsuccessful at refinancing and lowering their monthly mortgage payments. The most common barriers cited are not qualifying and not trusting lending institutions, the survey found.

Top Stories

  • Does This Make Sense?
    Jason Rantz questions Inslee's plan to fund transportation with carbon pollution tax

  • Big Release
    Michael Medved takes a look at whether the latest Hobbit film is worth your interest

  • Holiday Map
    Find holiday events, Santa photo opportunities, and light displays
ATTENTION COMMENTERS: We've changed our comments, but want to keep you in the conversation.
Please login below with your Facebook, Twitter, Google+ or Disqus account. Existing MyNorthwest account holders will need to create a new Disqus account or use one of the social logins provided below. Thank you.
comments powered by Disqus
Listen to the show
Hear Real Estate Today on KIRO Radio
Join Tom Kelly every Sunday at 9am on KIRO Radio to talk Puget Sound real estate.

Sign up for breaking news e-mail alerts from
In the community
Do you know an exceptional citizen who has impacted and inspired others?
KIRO Radio and WSECU would like to recognize six oustanding citizens this year. Nominate them to be recognized and to receive a $2,000 charitable grant.