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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: MulhollandDrive who wrote (106169)2/22/2008 12:08:58 PM
From: John VosillaRead Replies (3) of 306849
 
'Judges in at least five states have stopped foreclosure proceedings because the banks that pool mortgages into securities and the companies that collect monthly payments haven't been able to prove they own the mortgages. The confusion is another headache for U.S. Treasury Secretary Henry Paulson as he revises rules for packaging mortgages into securities'

The dude in that $1.5M Boca Raton house of that article hasn't paid his mortgage in five years. This country is going down the drain due to the stupidity and arrogance of both the far left and far right.
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