Buy low to beat negative equity
http://www.property24.com/articles/buy-low-to-beat-negative-equity/12082
If you want to avoid the negative equity “monster” that can swallow your home whole, you’ll need to do some forward planning.
So says Tjaart van der Walt, CEO of the RealNet estate agency group, who explains that negative equity is the term for when the outstanding balance on a home loan is bigger than the current market value of the property. “Amid all the positive news about the recovery of the real estate market, we should not lose sight of the fact that negative equity is what did most of the damage to homeowners during the 2008/’09 recession. And it remains a danger for every new generation of buyers,” says Van der Walt.
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