A credit counseling organization has released a survey, which itsaid contradicts a prevailing image of large numbers of home ownerswalking away from their mortgages.

The National Foundation for Credit Counseling, which billsitself as the nation's largest and oldest nonprofit creditcounseling organization, said its Financial Literacy Survey for2010 shows a majority of home owners willing to keep paying theirmortgages if possible.

The survey found that the overwhelming majority of consumers,even those in financial distress, still consider their mortgagepayment a priority, the organization said. "When asked if they wereunable to meet all of their financial obligations, would they bemore likely to keep their mortgage current, or their credit cardscurrent, 91% of respondents said they would pay their mortgagefirst," NFCC added.

The survey also asked under what circumstances, if any, theywould consider it justifiable to default on a mortgage. Only 23% ofrespondents answered that foreclosure is justifiable if theproperty is now worth less than what is owed on it. Further, 15%replied that there is no justifiable circumstance under which itwould be acceptable to default on a mortgage.

"Taken together, the NFCC survey data brings us some encouragingnews: consumers still place a priority on making their mortgagepayment, less than one-fourth think that defaulting on a mortgageis justifiable simply because the property is underwater, and asignificant number take mortgage obligations so seriously that theyfind no acceptable reason to default on a home loan," said GailCunningham, spokesperson for the NFCC.