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The fresh new software allowed mortgage servicers to minimize mortgage balances, but it astonished no one whenever really banks opted to not

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The fresh new software allowed mortgage servicers to minimize mortgage balances, but it astonished no one whenever really banks opted to not

“There clearly was a genuine risk that if folks are so honestly underwater, they could disappear using their mortgage loans,” Schwartz said. “So you can build a powerful instance for principal reduction.”

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