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More than 5 Million Homes Will be Worth Less than 75% of Their Mortgage
“Without a solution, and there are almost certainly no solutions forthcoming, home values will continue to drop this year and probably into next.” This was posted 2/3/10 by Douglas McIntyre of AOL’s Daily Finance. He says that “The federal government is left with few options. Even if it saw fit to put $745 billion into programs that would reduce mortgages on homes with underwater loans, the cost is too high with the federal budget deficit for this fiscal year projected to be nearly $1.6 trillion.” Economist Sam Khater told The New York Times that “people’s emotional attachment to their property is melting into the air.” Click here to read the full article. Find out about 2% Listing fee.
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