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Follow on Google News | FINANCE NEWS - Atlantis Financial Reports as Foreclosures Hit Some Cities HardAccording to sources close to the Valencia based firm, Atlantis Financial have recently reported that lenders are also posting huge losses as the easy money lending spree that fuelled the housing boom continues to unwind.
By: Investline In addition, sources say that Atlantis Financial’s researchers have found that losses from the current turmoil in the mortgage market could eventually approach those seen in the late 1980s, when the savings and loan industry collapsed under heavy wave of real estate defaults. A spokesman for Atlantis Financial reportedly stated that this time around, bad mortgage debt may cost banks as much as $400 billion by the time the credit crisis is over. End
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