Owners of homes worth less than their mortgage loan balance–those so-called “underwater,” “negative equity” or “upside down” homes–are walking away from their properties.
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Senate Denies Balance Reductions by Judges
by Justin Bartlett in May 3rd 2009The Senate voted against a measure that would grant bankruptcy-court judges the ability to reduce the amount owed on some mortgages on Thursday. Seeking to take a…
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