Today the Bank of England’s Governor, Mervyn King, released a stark statement to homeowners: expect the worst.
In the somewhat optimistically titled Financial Stability Report, King warned that up to 1.2million home owners face the prospect of negative equity as masses of people teeter right on the tipping point of what they owe vs what their home is worth. With 2009 house price forecasts not looking rosy, the latest price falls are expected to hit the middle classes hard as people struggle to meet mortgage payments.
Have you been affected? Do you need help dealing with negative equity? Please do get in touch…
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