The majority of consumers, including those in financial distress, consider their mortgage payment a priority.

Few homeowners are walking away from underwater mortgages or choosing not to pay a mortgage after home values plummeted, according to the National Foundation for Credit Counseling’s (NFCC) 2010 Financial Literacy Survey.

When asked if they were unable to meet all of their financial obligations, 91 percent said they would pay their mortgage first, before a credit card bill.

Twenty-three percent of respondents answered that foreclosure is justifiable if the property is now worth less than what is owed on it. Fifteen percent replied that there is no justifiable circumstance under which it would be acceptable to default on a mortgage.

"Taken together, the NFCC survey data brings us some encouraging news: consumers still place a priority on making their mortgage payment, less than one-fourth think that defaulting on a mortgage is justifiable simply because the property is underwater, and a significant number take mortgage obligations so seriously that they find no acceptable reason to default on a home loan," said Gail Cunningham, spokesperson for the NFCC. "Americans continue to prioritize their obligation to service their mortgage loan, and this is indeed good news for homeowners, mortgage lenders and the housing market overall."