Owning your own home

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NickCJ in reply to @user49934

Thanks. Sadly, people usually fall behind on their mortgages through no fault of their own - job loss, family breakdown, bereavement and so on. Not being a 'mug' can only get you so far.

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user49934 in reply to @NickCJ

or that they were silly and spent nigh on 800k on a house that realistically was only ever worth 500 give or take when the props are taken away?

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NickCJ in reply to @user49934

Not especially, many delinquencies are sub 100% LTV but the mortgage became unaffordable. It was probably originated at 4.5-5x salary so limited wiggle room in case of loss of income.

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