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| Negative equity (1) | |
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| NEGATIVE EQUITY (1) Definitions: i. The situation in which the value of somebody's house is less than the amount of money that is still owed to a mortgage company, such as a bank. ii. (British) (business) If someone who has borrowed money to buy a house or flat has negative equity, the amount of money they owe is greater than the present value of their home. ______________________________________________________________________ * All five elements should be in. 1. No considerable sum would have been spent on property by way of renovation or redesign, after it was bought and repayment commenced. 2. Cause(s) or reason(s) for decline or reduction of the worth of house or flat can be known, be this inflation, disaster area, etc. 3. House or flat cannot be made to have a higher value or be put up for sale in the immediate future. That is, no negotiation over resale of property can take place in situation. 4. What would have been earned or be expected as rental income, (if applicable) or value for money from the use of property would not be considered substantial or adequate to give peace of mind. 5. Loan is still being serviced regularly. (To emphasize.) And an investment professional can take advantage of situation and turn a 'negative' to 'positive'. __________________________ See perfect REMORTGAGE. | |
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