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Loan Modification

: Mortgage Lender Implode-o-Meter

strategic default driven by future home prices, default costs

By Implode-Explode Heavy Industries

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"Borrowers thinking about walking away from their homes voluntarily don?t necessarily give up because the mortgage balance exceeds the value of their homes, according to an Economic Letter titled ?Underwater Mortgages,? from the Federal Reserve Bank of San Francisco."

Full post as published by Mortgage Lender Implode-o-Meter on October 20, 2010 (boomark / email).

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