The Mortgage Welfare State

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Writes a friend in Boston:

“I’m not making this up: [Mass. Gov.] Deval Patrick is considering a plan that would require lenders who foreclose on homes to pay the defaulter $5,000 for moving expenses, and the first and last month’s rent of the apartment they get.

“Shouldn’t they throw in a high def TV and some Sox tickets?”

12:45 pm on July 25, 2007