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Media Interested In Interest-only

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http://www.timesonline.co.uk/tol/money/pro...icle6804683.ece

Many of the four million homeowners who took out interest-only mortgages are facing a crisis because they have no way of repaying their home loans

What's someone who can never repay their mortgage?

A homeowner, apparently, not some low-life renter.

Edited by Soon Not a Chain Retailer

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Experts said that homeowners who pinned their hopes on their house covering the cost of paying off the mortgage were most at risk after house price falls of 22 per cent from peak to trough, according to figures from Halifax."

What does this mean?? The debt is the same whether the house is worth £50 or £1 million! Were these 4 million all going to cash out and leave the country......

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