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Bubble Boy, a/k/a Len:

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bbotcs Member Level  Thursday, 08/20/09 04:59:56 PM
Re: lentinman post# 27501
Post # of 33752 
Bubble Boy, a/k/a Len:

U will appreciate this information that I found at Yahoo! news today:

"That news is no surprise to Karen Weaver of Deutsche Bank. She startled everyone a few weeks ago when she predicted that, by 2011, nearly half of American mortgage holders would be underwater (meaning that they'll owe more on their mortgages than their houses were worth).

Half of mortgage holders means about one-third of American households. Put another way, Weaver forecasts 25 million mortgage holders will be under water by 2011, up from an estimated 14 million currently."

This is mind-boggling, but it is all part of the destruction of the wealth of this formerly great nation.

To be honest, Congress should enact legislation making it a crime to walk away from a mortgage because the market value is less than the mortgage. It is morally bankrupt to do so, and imo, it should be a crime.


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