Sharp divide exists between Dems, Repubs on gov't help in foreclosures
By Kerry Curry

The majority of Americans, 58%, want government action to prevent foreclosures, whereas 34% prefer the housing market resolve its problems on its own, according to a new Gallup poll that shows a sharp divide between Democrats and Republicans on the issue.

The Gallup poll shows 76% of Democrats and 61% of independents favor government action while only 31% of Republicans favor federal intervention.

Americans who make more than $90,000 per year were less likely to want government intervention to prevent foreclosures, but 52% of that group still favored some action, while 62% of those making less than $90,000 favored some federal action to stem foreclosures.

In the survey, 51% expressed worry about home values. The number was higher (57%) among only current homeowners.

Only 66% of Americans in the survey said they own their primary residence, down from 73% in 2006 and 2007 surveys, Gallup said. (Click on chart to expand.)

Results for the poll were based on telephone interviews conducted Jan. 5-8 and Jan. 14-15 with a random sample of 1,000 adults, aged 18 and older, living in the continental U.S. Samples were weighted by gender, age, race and other factors. They were selected using random-digit-dial sampling. The margin of error is plus or minus 4 percentage points.

Write to Kerry Curry.

Follow her on Twitter @communicatorKLC.

More In Servicing

The Department of Housing and Urban Development will release its mortgage-servicing scorecard during the second quarter, according to a senior department official.

Ocwen Financial Corp. reported net income was down slightly in the fourth quarter of 2011, as it absorbed costs of the Litton Loan acqusition, but for the full year the mortgage servicer saw its income rise more than 100%.

Wells Fargo installed an incentive program that pays its single-point-of-contact employees more if they reach some sort of workout in lieu of foreclosure.

Mortgage servicers will not be able to use principal reduction tax dollars under the Home Affordable Modification Program as "credits" toward the foreclosure settlement with the government, a Treasury official said.