Friday, Nov 23, 2007
UK Taxpayer expected to pay for liar loans?!
The Guardian: massive hole in Northern Rock's assets
Northern Rocks finances
· Loans have exceeded the value of the property on nearly 2,500 mortgages, with a value of £263m. Three years ago, the figure was just £13m on 158 properties.
· 10,000 Northern Rock customers are a month or more in arrears on their mortgages, on loans worth nearly £1.2bn. At the end of 2003, there were only 2,500 in the same difficulties, with mortgages worth £168.8m.
· In 2003 Northern Rock repossessed 80 properties. Last year more than 1,000 properties were repossessed. By the end of September this year 912 properties had already been repossessed.
Posted by smurf @ 04:02 PM (130 views) Add Comment
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