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Mrp San Bernardino

California Gold Rush? Righting Underwater Mortgages

Dean Baker | Posted 09.26.2012 | Business
Dean Baker

Ever since the housing bubble collapsed, the Federal government has refused to take major initiatives to help underwater homeowners. As a result, we are likely to see close to one million foreclosures both this year and next, with the numbers only gradually slipping back to normal levels by the end of the decade.