Realtors Poll: Nevadans Split on Mortgage Defaults
The Nevada Association of Realtors has published a survey that says state residents are split about whether it's OK to default on a home mortgage.
Almost half the state residents polled for a "Face of Foreclosure" project in recent months said there's nothing wrong with what the survey called "strategic default."
An equal number disagree. They say homeowners have a legal and ethical obligation to pay their mortgage if they can.
The findings were made public Thursday.
Association chief Blane Johnson says the research shows how polarizing the issue has become.
He says he hopes banks and elected officials will use the findings to help distressed homeowners refinance or modify home loans -- or help streamline "short sales" of homes for less than what the borrower owes on the mortgage. (AP)