Tuesday, November 27, 2007

Reposession threatens hundreds of thousands

Hunderttausenden Familien droht Zwangsversteigerung

It's not just the UK media that are watching the markets: Der Spiegel Headline: "Hunderttausenden Familien droht Zwangsversteigerung. Hausbesitzer in Sorge, Börsen in Aufruhr: Die Krise an den Finanzmärkten geht in die zweite Runde - und die könnte schlimmer werden als die erste. In Großbritannien fürchten Zehntausende, in den USA Hunderttausende Familien die Zwangsversteigerung. Auch Aktionären blühen schwierige Wochen." Summarized: Homeowners concerned, markets uneasy. The crisis in the financial markets enters a second stage that could be worse than the first The message is that whilst mortgage rates are around currently 6.6%, these will be "up to around 10% in the coming months". "A mortgage of approximately £150,000 will have monthly interest dues increase by about £300.

Posted by growler @ 11:07 AM (688 views)
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