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Loan Modification

: Mortgage Lender Implode-o-Meter

One Third of UK Prime Mortgages to Slip Underwater

By Implode-Explode Heavy Industries

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"Fitch Ratings says that 15% of mortgage loans by value in UK prime RMBS master trust programs are in negative equity. The agency expects that to increase to 34% if house prices fall in line with Fitch?s expectations of a 30% house price decline peak to trough, which would mean a further 14% fall from today?s values."

Full post as published by Mortgage Lender Implode-o-Meter on June 24, 2009 (boomark / email).

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