34% of Mortgage Holders Don't Know What They Have

From Bankrate.com, a poll of homeowners shows that 1/3 of them have no idea what type of mortgage they have.

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.

This should give serious pause to those who believe that better disclosure will solve silly homeowner decisions re: mortgages.

The full results are here but the eye-catching headline is the best part of the poll.

Posted on April 2, 2007 and filed under Finance.