Los Angeles Times | Real Estate: Fannie, Freddie are set to reduce mortgage balanes in California May 08,2012

Submitted by lusk-admin on Tue, 07/10/2012 - 16:56

"...In places that are deeply underwater, ultimately those loans where you are not reducing principal, they are going to fail anyway," said Richard Green of USC's Lusk Center for Real Estate. "So you are putting off the day of reckoning..."

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