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“Struggling Homeowners” Default and Go to Disney World

December 10, 2009
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The Wall Street Journal tells us about the New American Dream—default on your mortgage, rent for half the price and go to Disney World in your BMW. My favorite part of this story: The two main characters are a teacher and a firefighter. Both walked out on $400K-plus mortgages; one owns other rental properties,...
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Andrews’ Omission

May 22, 2009
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(ht CJR) Following New York Times financial reporter Edmund Andrews’ confession last week that he was nearing foreclosure. The Atlantic Monthly did some digging. Turns out Andrews left out a couple of salient facts from his story of mad mortgage-his wife’s two bankruptcies: Andrews’ desire to shield his wife is understandable-hell, laudable. No decent...
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