The expression "negative equity" is used to describe a situation where the amount owed on a mortgage or loan secured on a certain property, exceeds the value of that property. This situation is particularly difficult for a borrower who wishes to sell the house, as the proceeds from the sale would not be enough to repay the loan.
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Think Carefully Before Securing Other Debts Against Your Home. Your Home May Be Repossessed if You Do Not Keep Up Repayments On A Mortgage Or Other Debt Secured On It.
