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Fifty percent of mortgages could be for more than the value of the house it covers by 2011

October 14, 2009 – 12:00 pm – No Comment
Fifty percent of mortgages could be for more than the value of the house it covers by 2011

The number of United States homeowners that owe more than their home is worth will likely double to 48% in 2011 from 26% at the conclusion of March. This would lead to another blow to the housing market. This is all according to Deutsche Bank.
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