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Debate House Prices
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The Nice Decade Poll-Who missed out?
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bo_drinker wrote: »What does MEW stand for ?? Never done it anyway.
http://en.wikipedia.org/wiki/Mew
Usually an indication that someone is living on the increasing value of their home.
The signs are a second mortgage from a sub prime lender appears on the Land Registry charges section for the property and a 4x4 appears in the drive to impress the neighbours for 5 years.
Some people with NINJA loans managed to "live" off their home for up to 10 years.
One of the reasons why the USA (and the rest of the world) is in such a mess is that such people can legally hand back the keys and simply walk away, leaving the "bank" with the problem. They might end up in a trailer park but they owe nothing to anybody in many states.
http://en.wikipedia.org/wiki/Ninja_loan#No_Income_No_Job_No_Assets0
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