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Need a Housing Bailout? I Admit it, I’m Unsympathetic to Speculators
by Brendan O'Brien | February 21, 2009Have you heard of Scott Mintz? The LA chiropractor bought four houses, leveraging heavily in the expectation that real estate values would rise forever. Shockingly, they didn’t. Now, every one of his houses is underwater. Mintz not only wants his loans refinanced, he’d like the lenders to reduce his loan principal to reflect their current [...]