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'Mark-to-market' mortgages can save home market

U.S. President Barack Obama’s $75 billion plan to help families avoid foreclosure should be bolder. While it is a meaningful rescue attempt that may help 9 million Americans, it could be doomed unless mortgage issuers have to write down principal to re-flect current market values. The odious (to lenders) concept of a “mark-to-market” mortgage might be one ...

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