Sunday, September 5, 2010
Mortgage modification and negative equity
This week I have two new financial expressions for you “negative equity” and “a mortgage moderation.” Check out their meaning on my squidoo lens.
These expressions come from a long Guardian article on the US housing market. The article reveals some shocking statistics about the property market in the US and also a very interesting and unusual way which the government is encouraging the lenders to use in the hope of solving this problem.
Is negative equity a big problem where you live? Discuss the “jamboree of delinquent borrowers” with your partner. Would people be interested in this type of help in your country or would they prefer to keep their financial problems private.
Read the article carefully and then try the quiz in the next post.