'Foreclosure Five,' 5 states costing whole country
"The beneficiaries of (Obama's) taxpayer charity will be highly concentrated in just five states -
- California, Nevada, Arizona, Florida and Michigan.
- they took on too much debt, often by refinancing in risky ways to "cash out" thousands more than the original loan.
- Nearly all subprime loans were for refinancing,
- not buying a home."
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