What happens if you need to sell with negative equity?

A read of the Daft report on housing in Ireland, fresh off the press, might be of interest to you in this situation. [broken link removed]

Given the economic repercussions of recent sub-prime lending in the US banks everywhere are being more circumspect about who they lend to adn how much. If your partner and friend acquire a poor credit rating that will affect their ability to borrow in the future, so further property investment might be more difficult. The UK Council of Mortgage Lenders predicts 45,000 repossesions in the UK this year. That is in a property market described as 'levelling' or 'slow'.

hope you find a way through it.
 
There was an interesting piece in last Sunday's Business Post. See:

[broken link removed]

It's hard to say if the people mentioned are real or not, but one can imagine some pretty hard cases out there.
 
Thanks Marie and ang1170 - very interesting reads..

Looks like we'll be waiting so!
 
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