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Loan Modification

: Mortgage Lender Implode-o-Meter

Florida `Dirt Bonds' Are Subject of Inquiry by IRS in Muni-Debt Probe

By Implode-Explode Heavy Industries

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"The IRS is auditing so-called dirt bonds sold in 2007 by the Stoneybrook South Community Development District, a special entity set up to finance infrastructure for a development by a unit of Lennar Corp. and a Florida partner, according to bond filings. The securities, backed by assessments on property owners, defaulted amid the real-estate crash."

Full post as published by Mortgage Lender Implode-o-Meter on January 28, 2011 (boomark / email).

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