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Bloomberg: FHA New Foreclosure Jump as Modified Loans Default

May 9, 2012

"If prices have hit bottom, or they're going to bump along in the range we've seen recently, it probably won't destabilize the more recent mortgages," said Richard Green, director of the Lusk Center for Real Estate at the University of Southern California in Los Angeles. "If prices keep going down, the FHA might require some help from taxpayers."

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