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by VirusNewbie
1481 days ago
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>if houses lose 30% of their value, a substantial amount of people would be underwater and would likely be better off walking away. Could be very bad. That would only be true for people who did cash out refis, not for someone who just wanted a lower interest rate. All they did was re-amortize their current existing loan (on a house that they already had equity in) and get a lower rate. |
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