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: Mortgage Lender Implode-o-Meter

Second Mortgages Vex Borrowers

By Implode-Explode Heavy Industries

"Banks are coming under increasing political pressure to write off or at least write down second-lien and other junior mortgages as a way to help borrowers keep their homes or extract themselves from heavy debt. As the Wells Fargo suit shows, however, banks often are reluctant to give up on loans when they see a chance of recovering all or part of their money."

Full post as published by Mortgage Lender Implode-o-Meter on April 13, 2010 (boomark / email).