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Loan Modification
: Mortgage Lender Implode-o-MeterPerpetual Liabilities: An endless note on your house you can never pay off
By Implode-Explode Heavy Industries
Imagine the perpetual loan, a loan that no matter what you do, you can never pay off. To help conceptualize the idea, think of it as a perpetual interest-only loan in which you are forbidden to completely pay off principal.
As preposterous as that deal may sound, it is highly likely you are in one
Full post as published by Mortgage Lender Implode-o-Meter on February 14, 2011 (boomark / email).
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