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Wednesday, 16 July 2008 11:05 |
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Even while our nation's real estate downturn is still unfolding, there's been lots of talk about how to prevent a repeat in the future. But, proposals like the billion dollar bailout of brokers Fannie Mae and Freddie Mac aren't enough... a drastic overhaul of the mortgage system is needed. Step one, remove the temptation for appraisers to inflate home appraisals, typically used to allow lenders to lend too much and borrowers to borrow too much.
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