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JPMorgan Chase Driving a Harder Bargain in Mortgage Short Sales

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JPMorgan Chase is taking a hard line with some borrowers who want to sell their homes for less than they owe on the mortgage and avoid foreclosure.

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The $25 billion mortgage robo-signing settlement is:
Political extortion from the banks in an election year
A slap on the wrist — the banks put reserves away for this long ago, they won't even feel it
A source of relief for both banks and homeowners that could help the housing market and economy recover
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