Bloomberg asked:
Analysis of the US Mortgages with Mark Fleming of First Amarican Corelogic wherein US mortgage continues to look grim. (Bloomberg News)
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consider: you bought a home for $240,000 with $40,000 down–two years later, no bank is going to refinance that $200,000 mortgage if the house is now worth only $175,000….
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If unemployment continues to rise, this will have a terrible effect on these households.