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Loan Modification
: Mortgage Lender Implode-o-MeterProperty slump hits small-time investors
By Implode-Explode Heavy Industries
Buy-to-let landlords who invested in "cheap" areas are at the sharp end of a housing slump which has seen a record number of mortgagee sales.
Property consultant and investor Olly Newland told the Herald that most sellers had been caught out by rising interest rates and dropping values and had failed to gain the rents needed to cover their mortgages.
Full post as published by Mortgage Lender Implode-o-Meter on June 29, 2009 (boomark / email).
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