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Negative equity occurs when the value of an asset used to secure a loan is less than the outstanding balance on the loan. In the United States, assets (particularly real estate) with negative equity are often referred to as being "underwater", and loans and borrowers with negative equity are said to be "upside down". From Wikipedia under the
GNU Free Documentation License What is the best advice for someone that has a $10,000 negative equity in a car loan? Q. I purchased a 2005 Nissan Altima , with no money down and received a $1850 cheque back from the dealership . Now I am looking to trade my Altima in but have so much negative equity in my present car loan . Is there any logical advice for me to break even on my loan . Asked by KG - Sun Feb 3 19:41:18 2008 - - 10 Answers - 0 Comments A. Don't take out such a crazy loan next time... Keep driving the car that you have and stop wasting your money. Answered by FTG! - Sun Feb 3 19:55:16 2008 Can you vaccinate against negative equity? Q. My mortgage company told me I got negative equity. That's so unfair, I've never slept around or been immoral. Is there a vaccination against this so I don't get it again? Asked by Poo Poo - Sun Mar 15 14:32:28 2009 - - 4 Answers - 1 Comments A. I would venture a slightly humourus reply, in the same vein as your question, and not being sure if Poo Poo is your possible cure or your name, in this medical forum, I would suggest that there is no vaccine at this time for these symptoms. So,although there is no cure, other than economic recovery, leasing will cure the negative equity problem by absorbing it into the lease payment. Alternate measures may be undertaken by a financial injection, which I am assured is quite painless and relieves the symptoms almost immediately. Hope this helps matador 89 Answered by matador89 - Sun Mar 15 14:51:13 2009 Mortage with negative equity and need to refinance, guidance please.?
Q. I have a mortgage and now my equity is in the negative. But how can i refinance, without putting any more money in, does anyone have any ideas or gone through this. My loan is fixed right now at 6.25% but will go to a variable rate in 3 years. i'm afraid of staying here and in 3 years, the values going down even more and not being able to refinance at all, anyone have any ideas, or gone through this. Asked by jack a - Mon Apr 7 21:12:12 2008 - - 9 Answers - 0 Comments A. Well, you CAN'T refi now. But, since you do not need to worry about it for 3 years I think you should sit tight. This market readjustment will NOT take another 3 years. Things should be settled by then. The interest rate might be higher though, I am expecting that. You have 3 years to get your credit rating high and save up some cash if there is still a deficient between the amount you originally spent and the amount you can refinance for. Answered by Landlord - Mon Apr 7 22:34:47 2008 From Yahoo Answer Search: "Negative equity"  zillow.com 350px x 600px | 53.10kB [source page] Grand Junction Negative Equity  zillow.com 800px x 800px | 114.50kB [source page] Tampa Negative Equity Map  newsimg.bbc.co.uk 170px x 226px | 18.50kB [source page] One million homeowners are thought to be in negative equity as house prices fall the Council of Mortgage Lenders says From Yahoo Image Search: "Negative equity"  moneyweek.com unknown Mon, 13 Jul 2009 08:34:00 GM In case you hadn't heard, Britain's biggest building society frequently seen as the 'nice' face of high street banking is offering homeowners in . negative equity. the chance to borrow up to 125% of the value of a new property. ...  fundmymutualfund.com TraderMark Mon, 06 Jul 2009 17:00:00 GM The evidence from a huge national database containing millions of individual loans strongly suggests that the single most important factor is whether the homeowner has . negative equity. in a house -- that is, the balance of the mortgage ...  huffingtonpost.com David Fiderer Fri, 03 Jul 2009 23:15:46 GM After studying a huge national data base, said the evidence "strongly suggests that the single most important factor is whether the homeowner has . negative equity. in a house." Duh. That's like saying, "What is really behind the poverty ... From Google Blog Search: "Negative equity" |
