Sacramento
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Buy and bail, the newest trend in housing shenanigans
Jun 11, 2008It turns out that prices have fallen enough in some housing markets that existing homeowners can finally afford that second home — and then promptly stop paying on the first. The Wall Street Journal gives us anecdotal evidence of the so-called “buy and bail,” in which we see borrowers trading a new mortgage for a defaulted one:
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States Struggle to Come to Terms with Mortgage Mess
Jun 10, 2008 -
The Kitchen Sink for Dec 23-25
Dec 23, 2006
