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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: CalculatedRisk who wrote (25384)	3/11/2005 12:47:56 AM
From: Elroy Jetson	Read Replies (2) \| Respond to of 116555

That's why we're going to have a juicy new bankruptcy law. Once the homeowner refinances they are on the hook for any deficiency judgement when their home is foreclosed. They'll be paying their mortgage payment long after they have lost their home. All the sheep are in the pen fitted up with succulent large mortgages, so it's time to shut the gate. Mortgage debt has grown so much faster than income that its a perfect Monetarist fantasy. .