February 12, 2012

NYT: No help in sight, more homeowners walk away

NYT: No help in sight, more homeowners walk away

Benjamin Koellmann paid $215,000 for his apartment in Miami Beach in 2006, but now units are selling in foreclosure for $90,000. By June, about 5.1 million people are projected own a home whose value is below 75 percent of what is owed, prompting many to walk away from their mortgages.





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