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THE COMING SECOND WAVE: More homeowners whose mortgages are deeply underwater are considering “strategic defaults,” or just walking away from their mortgages. But there are some big financial consequences that homeowners could face if they do.
Fortunes have been made and lost on land deals in Las Vegas. Mostly lost, lately.
It’s no secret Nevada owns one of the nation’s worst economies. The Silver State’s jobless rate hovers around 13 percent, and if you throw in discouraged workers who’ve quit seeking jobs and part-timers who want full-time work, unemployment actually runs close to 25 percent in the state, experts say.