Half of Mortgage Holders Report Struggles Paying in Full

A new LendingTree survey suggests that about half of Americans with a mortgage have had higher monthly payments in the past two years. A significant share say they could not pay the full amount at least once in the past year. The results point to rising costs from taxes, escrow shortages, and insurance, with younger borrowers most affected. This explainer summarizes what changed, who is affected, and what readers can consider doing next.

What changed for homeowners

According to the survey, 50% of homeowners with a mortgage say their monthly payment rose in the last two years. Among those whose payments increased, 22% reported a large rise. The main reasons cited for higher costs were higher property taxes (59%), escrow shortages (40%), and higher homeowners insurance costs (39%). About 50% said they were unable to pay their full mortgage at least once in the past year, indicating widespread strain even among those still current on payments.

Who is affected

Younger borrowers feel more pressure: 81% of Gen Z and 59% of millennials reported being unable to pay the full mortgage in the past year, compared with 43% of Gen X and 14% of baby boomers. The data suggests higher financial vulnerability among newer entrants to homeownership, and among households with tighter monthly budgets.

Practical next steps for affected readers

If you’re struggling with mortgage payments, consider: (1) Checking with your lender about payment options such as forbearance, repayment plans, or temporary relief. (2) Reviewing your annual costs and clarifying what portion comes from property taxes, escrow, and insurance to target the biggest drivers. (3) Shopping for a more affordable escrow or homeowner insurance quote if costs allow. (4) Exploring options to refinance if rates and terms would lower monthly payments or total costs over time. (5) Creating a budget and seeking local housing counseling or nonprofit support to review options. Always verify terms with lenders and avoid schemes promising quick fixes without formal approval.

Limits and questions

The source summarizes a survey hosted by LendingTree and reports self-selected responses from participants who use online services. The results show associations between costs and payment ability but do not establish a causal link for every individual case. Readers should consult their own loan documents and speak with a licensed counselor or lender to understand personalized options.

Information and responsibility notice: This article is general information based on the cited material available when published. It is not legal, tax, immigration, medical, financial, banking, or investment advice; it does not create a professional-client relationship; and it is not a guarantee of outcome, availability, accuracy, or eligibility. Rules, schedules, prices, and third-party information can change. Confirm material decisions with the relevant authority and an appropriately qualified adviser before acting.