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Underwater Mortgages Hit 11.3 Million
Link: http://247wallst.com/2010/02/23/underwater-mortgages-hit-11-3-million/
There is a reason that 702 American banks, nearly one in ten, were on the FDIC “problem list” as of the end of 2009. A large number of small and mid-sized banks are burdened with home and commercial mortgages that are in default and may even go into foreclosure.
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