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eric pebble

Daily Telegraph: 1.7M Home Owners Face Negative Equity.

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1.7m home owners face negative equity.

Up to 1.7m home owners face the spectre of negative equity according to new housing data.

Currently more than 800,000 home owners – 7.3pc of all households with a home loan – have a mortgage that is bigger than the market value of their property.

But thanks to lax lending during the credit boom, and several years of house price falls, this number could double :P:D if property prices dip a further 10pc. This would mean that almost as many home blighted by negative equity in the early 1990s after the last housing crash.

http://www.telegraph.co.uk/finance/personalfinance/borrowing/mortgages/8748761/1.7m-home-owners-face-negative-equity.html#dsq-content

READ THE LETTERS/COMMENTS!! [At the end of the article - scroll down...]

Very, very funny. ;)

Edited by eric pebble

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But, but, but, I thought you couldn't go wrong with bricks and mortar? :P

Depending on the amount of N.I. involved some people simply need to say ******** to it and post the keys back to the bank.

If Banksters have a license to place no lose bets then so should Joe Sixpack...

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"Not surprisingly, this problem will adversely affect those under 40, who have moved onto the property ladder more recently. "

All 63 of 'em across the UK.

Conversely, the 17 million under 40 who've not moved onto the property ladder (whatever that may be - something you use to climb up to clear gutters?) recently will be positively affected, and hence quite happy.

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"Not surprisingly, this problem will adversely affect those under 40, who have moved onto the property ladder more recently. "

All 63 of 'em across the UK.

Conversely, the 17 million under 40 who've not moved onto the property ladder (whatever that may be - something you use to climb up to clear gutters?) recently will be positively affected, and hence quite happy.

..many above your age bands have 'mewed' their equity to death and will die with the problem.... :rolleyes:

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..many above your age bands have 'mewed' their equity to death and will die with the problem.... :rolleyes:

Yup...... It's called

TOXIC DEBT....

& there's LOADS of it about - much of it JUST below the surface......, deliberately shoved out of sight..... :rolleyes:

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But, but, but, I thought you couldn't go wrong with bricks and mortar? :P

Depending on the amount of N.I. involved some people simply need to say ******** to it and post the keys back to the bank.

If Banksters have a license to place no lose bets then so should Joe Sixpack...

That`s the only way sixpack can fight back, staying on the hook is the worst of all options.

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"Not surprisingly, this problem will adversely affect those under 40, who have moved onto the property ladder more recently. "

All 63 of 'em across the UK.

Conversely, the 17 million under 40 who've not moved onto the property ladder (whatever that may be - something you use to climb up to clear gutters?) recently will be positively affected, and hence quite happy.

Yes, so the people who borrowed too much might as well just send the keys back, they will never ever get "their price' now.

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My heart bleeds.

Seriously if they can't afford it, what are they still doing in these homes? Why should everyone else be carrying the can for them? Stick them in a bedsit if they can't afford the mortgage.

Case closed.

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But, but, but, I thought you couldn't go wrong with bricks and mortar? :P

Depending on the amount of N.I. involved some people simply need to say ******** to it and post the keys back to the bank.

If Banksters have a license to place no lose bets then so should Joe Sixpack...

What use would posting the keys back to the bank do? Are you labouring under a misconception that this is an american BB?

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[/b]

Yes, so the people who borrowed too much might as well just send the keys back, they will never ever get "their price' now.

...they can post the keys back ...but ...they will still be due to settle the debt.....that's the way here..... :rolleyes:

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Hang on....is there even a problem with being in negative equity if you are planning on staying in your home, as long as you can afford the mortgage??

BUT..if you wanted to sell to realise the MASSIVE gains in your home, or just wanting to move elsewhere, then I supposed you are a bit buggered??, or indeed, if you are planning on remortgaging :unsure:

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Even if you "post the keys back" the banks still win. You're still liable to repay the loan you took out, the bank will simply dispose of the property and pursue you for the balance.

No they won`t, that was last decade, they will take a depreciating asset back onto their books and they might as well whistle Dixie for the loan repayments, because you can`t get blood out of a stone? If people start "posting" the authorities will cack themselves.

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My heart bleeds.

Seriously if they can't afford it, what are they still doing in these homes? Why should everyone else be carrying the can for them? Stick them in a bedsit if they can't afford the mortgage.

Your heart can stop bleeding, the article (should you wish to actually read it) is about negative equity and not about mortgage affordability or arrears.

Case closed.

Quite ;)

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Your heart can stop bleeding, the article (should you wish to actually read it) is about negative equity and not about mortgage affordability or arrears.

Quite ;)

I meant if they can't afford to live with it. For these people there is no difference between arrears and negative equity. Both mean they can no longer MEW there way out of trouble. Which I do pay for.

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No they won`t, that was last decade, they will take a depreciating asset back onto their books and they might as well whistle Dixie for the loan repayments, because you can`t get blood out of a stone? If people start "posting" the authorities will cack themselves.

Agree 100%. People should just say - F***K it. Here are the keys. Shove'em up your @rse.

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  • 297 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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