Photographer: David Calvert/Bloomberg
The tracks in the Nevada snow? Underwater homeowners walking away from their homes.
Under new rules, Fannie and Freddie won't try to collect "deficiency judgement," pursuing home owners for the remaining debt on houses they've walked away from. Sounds like a generous move. It's not.
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Size of Argentina's 2001 default. The country is on the hook for as much as $15 billion of that in the wake of the latest court ruling.
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