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State could play big role in helping families with underwater mortgages

By Bob Nakata

POSTED: 01:30 a.m. HST, Apr 24, 2012

~~<p>Hedge funds &mdash;&ensp;huge, nearly unregulated financial institutions that control billions of dollars in capital &mdash; are now capitalizing on the misfortunes of the estimated 11 million families nationwide who are struggling to pay for underwater loans on homes worth far less than their mortgages.</p>
<p>These funds are buying batches of these underwater loans at deep discounts, then selling them at a profit.</p>
~~

Hedge funds — huge, nearly unregulated financial institutions that control billions of dollars in capital — are now capitalizing on the misfortunes of the estimated 11 million families nationwide who are struggling to pay for underwater loans on homes worth far less than their mortgages.

These funds are buying batches of these underwater loans at deep discounts, then selling them at a profit. Login for more...



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