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To: rkral who wrote (177830)5/7/2004 12:56:09 AM
From: Elmer Phud   of 186894
 
Ron -

In this scenario, that's impossible IMO. What the heck do you think "exchange of fair value" means?

What the homeowner has exchanged is a limit on the upside value of his car. That "value" didn't exist until he created it by offering it to someone who would value it. This is a limit on potential and not an expense, imo.
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