More Than A Third Of Homeowners Have Cut Spending To Pay Mortgage

UTICA, N.Y. – More than a third (37 percent) of homeowners have cut back on spending for things such as food, transportation and home maintenance so that they could make their monthly mortgage payment, according to a new IBOPE Zogby interactive poll.

According to the survey, three percent have experienced a home foreclosure in the past three years, 29 percent are concerned about their ability to make monthly mortgage payments and 60 percent said the value of their home has declined over the past three years.

The survey of 1,461 adults who own a home now or any time in the past three years was conducted May 20-23 and has a margin of error of +/- 2.6 percentage points.

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