A new poll by market research firm Harris Interactive provides some unpleasant numbers about the housing crisis and the collapse of the house price bubble. The company found that 24 percent of people with mortgages believe they owe more on the loan than their homes are worth.

The U.S. Treasury Department recently announced that it is expanding the administration’s Home Affordable Modification Program (HAMP) to provide some mortgage relief to underwater borrowers.

Participating servicers will be required to consider an “Alternative Modification Waterfall” in their evaluations, which includes writing down the principal for loans that are over 115 percent of the current value of the property. This alternative modification approach will include incentive payments for each dollar of principal write-down by servicers and investors.

But some market observers worry that the help may be too little too late for many struggling homeowners, since Treasury officials say “it will take time” – no earlier than the fall – before the new program enhancements are up and running.

According to the Harris poll, nearly half of the borrowers who believe they are underwater say they are currently having difficulty paying their mortgage. Twenty-six percent report having “a great deal of difficulty.” Another 23 percent are having “some difficulty.”