News Tag: first home

April 18, 2008

Negative equity haunts 1.2 million homeowners

by Gill Montia
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 left with thousands of pounds worth ...

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