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One in Four Borrowers Is Under Water on Mortgage

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"The proportion of U.S. homeowners who owe more on their mortgages than the properties are worth has swelled to about 23%, threatening prospects for a sustained housing recovery," the Wall Street Journal reported. "These so-called underwater mortgages pose a roadblock to a housing recovery because the properties are more likely to fall into bank foreclosure and get dumped into an already saturated market." Unless! Unless there is perhaps some type of government and Federal Reserve plan, with the backing of the Treasury Department of course, to launch a temporary infusion of cheap capital into the hands of these homeowners, a plan not wholly unlike the one used to prevent the "economic collapse" of the banking system... just saying.