Negative equity haunts 1.2 million homeowners

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Negative equity haunts 1.2 million homeowners

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04-18-2008, 05:22 PM

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Negative equity haunts 1.2 million homeowners

Morgan Stanley, the investment bank, is predicting that UK house prices will fall 15% over the next two years, leaving 1.2 million homeowners in negative equity. For anyone in negative equity, mortgage debt exceeds the value of their home, making it difficult to move. Homeowners who fall into arrears with their mortgage payments can be repossessed and [...]

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