We conducted a study for mortgage servicing company Mr. Cooper from November 1-3. The purpose of the research was to get a better understanding of the stresses homeowners feel around the holidays, with many respondents feeling more concern over the status of their homes opposed to getting gifts. 1083 homeowning adults took part in the study, all from the US, and 30% of these respondents plan on making home improvements around the holiday season, Jay Bray, CEO of Mr. Cooper stated “The holidays are a wonderful time of year, but unfortunately for many Americans, the cost of gift giving and travel only magnifies the significant pressure credit card debt continues to play on their financial lives, the silver lining for millions is that their homes continue to be a source of wealth that can aid them in strengthening their personal balance sheets while potentially helping them find ways to invest in those sought-after home renovations. At Mr. Cooper, we want to help our customers better understand how their equity could benefit and provide them with personalized tips to borrow responsibly and escape the cycle of debt.”
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