TEMPE, AZ — U.S. homeowners are “facing a dilemma” – dealing with higher expenses than they anticipated, struggling to afford homeownership, weighing options, and making stark financial choices to manage the costs.
That is the key finding of a major new survey by Unlock Technologies, a Tempe, AZ based financial-technology company whose research found that most homeowners who were polled “do not plan to sell their homes, have limited emergency fund savings, and are stressed by personal finances.” In response, researchers said, homeowners are cutting corners on major purchases, everyday expenses and even retirement savings.
“Homeowners are struggling and searching for a way to cope in the current economy,” said Michael Micheletti, chief communications officer at Unlock. “Homeownership is a mainstay of the American economy, yet owners are stressed, worried about overall personal finances and making economic choices that could threaten their short- and long-term financial health.”…