Bad credit, secured loans, UK debts are becoming a problem for some

Some alarming figures just out recently from UK housing price statistics. Data from the large mortgage lender, Halifax, indicate prices for UK homes fell in May this year by 2.4 percent. So the experts are now predicting that house prices will drop over the next two years by a massive 20 percent. If this happened, a  Morgan Stanley spokesman has said, some 2 million British homeowners would find they had negative equity. For people with bad credit, secured loans, UK debts this is bad news. Because often these people have used their homes as a way of getting much needed money for emergencies.