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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: carranza2 who wrote (284821)10/19/2010 6:37:41 PM
From: Travis_BickleRead Replies (2) of 306849
 
I think BAC is probably in a position to fix the crummy documentization*, the question is whether the purchasers suffered harm due to it, I think they did because the people squatting in these homes are probably using the walk-in closet as an outhouse, so the value of the collateral has decreased due to the inability to foreclose due to the cut-rate documents which won't hold up in court, unless housing prices firm up in which case the value of the collateral may not have dropped.

So it's a question of the appropriate amount of damages, which is hard to tell unless you have a rear-view mirror.

*Tanta covered all the document stuff with great authority on CR's blog a long time ago, anyone with an interest in it should read her stuff

**Miss you Tanta
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