The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Les H who wrote (103048)	2/2/2008 2:31:58 PM
From: ChanceIs	of 306849

(In UK) The return of negative equity: Thousands at risk of owing more on homes than they are worth >>>Global meltdown. Worldwide CBs can try to put lipstick on a pig (underwater loan), but its still a pig.<<< By NICK MCDERMOTT Last updated at 00:56am on 2nd February 2008 Those who took out huge mortgages when property prices were high could be at risk Thousands of families are at risk of plunging into negative equity if house prices fall by even a small amount, experts warned yesterday. Those who took out huge mortgages while property prices were soaring have been left exposed by the market downturn. Credit ratings agency Experian have drawn up a map showing which areas of the country are most at risk from a fall in prices. It found that in some parts of Britain, the average mortgage debt is more than 90 per cent of local property prices. more.... dailymail.co.uk

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