Most underwater owners would not walk away

Survey reveals declining interest in foreclosure purchases

More than half of homeowners with a mortgage say they would not walk away from their home if it were underwater — i.e., they owed more than the home was worth — according to the results of a periodic survey by foreclosure data company RealtyTrac and property search site Trulia.com.

Harris Interactive conducted the national survey online between May 10-12. The survey had 2,596 participants: 1,690 homeowners (1,137 of them had a mortgage) and 832 renters. Of those homeowners with a mortgage, 59 percent said they would not walk away from their home regardless of how much they owed on it compared to what it was worth.