A third of US homeowners can't identify their mortgage type


	A third of US homeowners can't identify their mortgage type

enbar

3-29-2007 5:06 PM

778 views

tags:

finance, news, bad_news, housing, via:docuticker

enbar says:

Crazy. 34% of US homeowners don't know if their mortgage is fixed-rate or ARM (or something else). Via http://snurl.com/1ed4b

2 Comments |

Add a Comment

4-5-2007 8:19 PM

willhelm

Throw in the 3% that have interest-only loans and you have 37%. Roughly 2/3rds are morons. That sounds about right.

4-5-2007 8:32 PM

willhelm

That would be roughly 1/3 obviously. If 2/3rds were morons we would really be in serious trouble.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/041817fc-badf-4f01-bdcd-fd06a6185cee/E15CB619-4764-4458-88E3-728AD11FDEDB/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a" href="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a" style="font-size: 11px;">www.bankrate.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><TABLE width="100%" cellspacing="0" cellpadding="0" border="0"><TBODY><TR><TD width="135" valign="top" height="97" bgcolor="#ffffff"><A href="http://www.bankrate.com/brm/news/Financial_Literacy/Financial_Literacy_toc_a1.asp"><IMG width="135" height="97" border="0" src="http://www.bankrate.com/images_MRA/Guides/Financial_Literacy/march_1.jpg" /></A><A href="http://www.bankrate.com/brm/news/Financial_Literacy/Financial_Literacy_toc_a1.asp"></A>
</TD><TD width="1" bgcolor="#b2b2b2"></TD><TD valign="top" class="chptsmry-bkgndFL"><SPAN class="head_smVerdana">POLL</SPAN> <DIV class="headVserifsm">Homeowners, 
renters & mortgages</DIV><DIV class="head_intro">A stunning 34 percent of 
homeowners don't know what type of mortgage they have. </DIV></TD></TR></TBODY></TABLE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><table background="undefined" bgcolor=""><tr><TD class="headV" colspan="2">Mortgage ignorance rampant</TD></tr></table></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><B>As concerns about subprime mortgages 
                            plague the nation's leaders and lenders, America's 
                            homeowners are confused and worried about their own 
                            mortgages, according to a poll commissioned by Bankrate.com.</B></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><P class="body">In the survey of 1,004 adults conducted 
                            by Gfk Roper, homeowners with mortgages were asked 
                            what type of mortgage they had. A stunning 34 percent 
                            of the homeowners had no idea. </P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><TABLE width="100%" cellspacing="0" cellpadding="0" border="0" align="left" class="BoxDkBlue"><TBODY><TR> <TD height="4" class="solidlinetopDkBlue"><IMG width="1" height="1" src="http://www.bankrate.com/images_mra/spacer.gif" /></TD></TR><TR> <TD class="pollhead_sm3">What type of mortgage do you currently have?</TD></TR><TR> <TD height="4" class="solidlinebotDkBlue"><IMG width="1" height="1" src="http://www.bankrate.com/images_mra/spacer.gif" /></TD></TR><TR> <TD valign="top" height="10"></TD></TR> <TR> <TD bgcolor="#ffffff"><TABLE width="100%" cellspacing="0" cellpadding="1" border="0"><TBODY><TR> <TD valign="top"><TABLE width="100%" cellspacing="0" cellpadding="0" border="0" align="left"><TBODY><TR> <TD valign="top" align="center" class="sidebar"><IMG width="185" height="215" src="http://www.bankrate.com/images_MRA/Guides/Financial_Literacy/fin-lit-poll-4-rev.gif" /></TD></TR><TR> <TD valign="top" align="center" class="sidebar"><IMG width="1" height="5" src="http://www.bankrate.com/images_MRA/spacer.gif" /></TD></TR><TR> <TD align="center" class="dotted_line_white"><IMG width="1" height="5" src="http://www.bankrate.com/images_MRA/spacer.gif" /></TD></TR><TR> <TD valign="top" align="left"><P class="body"><SPAN class="small">Source: 
Bankrate.com 2007</SPAN></P></TD></TR> </TBODY></TABLE></TD></TR> </TBODY></TABLE></TD></TR> </TBODY></TABLE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a"><TABLE width="100%" cellspacing="0" cellpadding="0" border="0" align="left" class="BoxDkBlue"><TBODY><TR> <TD height="4" class="solidlinetopDkBlue"><IMG width="1" height="1" src="http://www.bankrate.com/images_mra/spacer.gif" /></TD></TR><TR> <TD class="pollhead_sm3">What do you plan to do when your ARM loan readjusts?</TD></TR><TR> <TD height="4" class="solidlinebotDkBlue"><IMG width="1" height="1" src="http://www.bankrate.com/images_mra/spacer.gif" /></TD></TR><TR> <TD valign="top" height="10"></TD></TR> <TR> <TD bgcolor="#ffffff"><TABLE width="100%" cellspacing="0" cellpadding="1" border="0"><TBODY><TR> <TD valign="top"><TABLE width="100%" cellspacing="0" cellpadding="0" border="0" align="left"><TBODY><TR> <TD valign="top" align="center" class="sidebar"><IMG width="185" height="217" src="http://www.bankrate.com/images_MRA/Guides/Financial_Literacy/fin-lit-poll-5-rev.gif" /></TD></TR><TR> <TD valign="top" align="center" class="sidebar"><IMG width="1" height="5" src="http://www.bankrate.com/images_MRA/spacer.gif" /></TD></TR><TR> <TD align="center" class="dotted_line_white"><IMG width="1" height="5" src="http://www.bankrate.com/images_MRA/spacer.gif" /></TD></TR><TR> <TD valign="top" align="left"><P class="body"><SPAN class="small">Source: 
Bankrate.com 2007</SPAN></P></TD></TR> </TBODY></TABLE></TD></TR> </TBODY></TABLE></TD></TR> </TBODY></TABLE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.bankrate.com/brm/news/Financial_Literacy/March07_mortgage_poll_national_a1.asp?caret=18a">"I wish I could say that surprises 
                            me," says Kim McGrigg, a spokeswoman for Money 
                            Management International, a nonprofit national group 
                            that counsels consumers about homeownership and credit. 
                            </blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/E15CB619-4764-4458-88E3-728AD11FDEDB/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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