BIG NEWS

Sunday, December 21, 2008

Mortgaged and more


Apparently, one in five homeowners with a mortgage owes the bank more than what the house is worth due to falling house prices. That's scary. It's also a sign of the times when people don't bother saving for a decent deposit anymore. In a two year period one householder bought his house and sold it for $500,000 less than he bought it for.

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Scoopit!

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