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Loan Modification

: Mortgage Lender Implode-o-Meter

Weighing the ramifications of simply walking away

By Implode-Explode Heavy Industries

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"A contract is a contract. That is how Wall Street argues but not how it acts. The Wall Street real estate investment firm Tishman-Speyer simply walked away from a $4.4 billion debt on a devalued giant housing project."

Full post as published by Mortgage Lender Implode-o-Meter on February 28, 2010 (boomark / email).

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