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Via Lambert, this from Naked Capitalism: Is the new government program to aid underwater homeowners really predatory lending? Sure looks like it:Why would you trade a non-recourse loan from which you can walk away for a recourse loan that guarantees you’ll end up as bad as some poor slob at Tappahannock? It doesn’t seem like an incredibly appealing choice, does it?But, of course, this is a classic case of asymmetric information because you don’t know that you are getting a poor trade, but your b
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Tags: Government, Home, Loan