| 单词 | negative equity |
| 释义 | negative equity The position of the owner of an asset whose value is less than the amount of debt secured by a mortgage on it. For example, a house owner with a mortgage of £100,000 on a house whose market value is only £90,000 has negative equity of £10,000. The providers of mortgage finance do not lend more than they believe the security is worth, but negative equity can occur if house prices fall after a mortgage is taken out, as occurred in the UK in the early 1990s, or if borrowers get into arrears on their repayments. |
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