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Bankruptcy
: Credit SlipsUnderwater Homeowners
By Adam Levitin
1 out of every 6 US homeowners is underwater. There's probably no better indicator than being underwater of a mortgagor who is likely to end up in foreclosure. That's very worrisome. And it means that foreclosure prevention plans that don't address the problem of underwater homeowners aren't going to help a lot.
Full post as published by Credit Slips on October 08, 2008 (boomark / email).
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