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IPFS News Link • Housing

Study Finds Underwater Borrowers Drowned Themselves with Refinancings

07-29-2009 • Wall Street Journal OnLine

The original loan-to-value ratio for these borrowers stood at a reasonable 84%, but second and third liens left homeowners with a combined loan-to-value ratio of about 150% by the time of the foreclosure sale date.

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Reported By Jack Gregson

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