Notes and Opinions from one of Arizona's Most Trusted Loan Teams

Four in five homeowners (82%) expect to see more or about the same amount of foreclosures in the next six months as they did in the last six. Already, more than nine out of 10 (92%) of all homeowners say there have been foreclosures in their local real estate market. Of these, 70 percent are at least somewhat concerned that foreclosures will decrease home values in their local market within the next year. Despite these concerns, nearly half of all homeowners (48%) say homeowners who are currently facing foreclosure because they took out an adjustable rate mortgage or other loan that they can no longer afford should not receive government assistance to stay in their homes. Only 28 percent support government intervention and 24 percent “don’t know.”

This is from a recent Zillow® survey of 1361 homeowners. JL