Local Initiatives Support Corp.

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Foreclosure Rates Comparable Across Incomes, Study Says

Oct 29, 2008By

A new study, commissioned by the New York-based Local Initiatives Support Corp. and released Wednesday, argues that defaults are more generally tied to the type of loan product than to a borrower’s specific income level — findings that are heating up a vivid political debate over the cause of the financial crisis, and, in particular, the role of the GSEs in driving the current mortgage mess.

3d rendering of a row of luxury townhouses along a street

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