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Loan Modification

: Mortgage Lender Implode-o-Meter

Hypo Real Estate To be Nationalized

By Implode-Explode Heavy Industries

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`` This issue has been building for nearly 7 months. Back in late September, just after Lehman went under, the Germany government was forced to bail HRE out as it ran into funding problems at its Irish subsidiary, Depfa. Since then, the situation at HRE has gotten considerably worse. Cognizant that it had a Lehman situation on its hands, the German government went so far as to change the laws to allow it to nationalize HRE. This is about to happen.''

Full post as published by Mortgage Lender Implode-o-Meter on May 01, 2009 (boomark / email).

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