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  • Not sure they saw it like that when they'd started with a massive mortgage and no one would give them another, so they had to live with his folks while they saved up enough to hit the new LTV requirements.

  • Swings and roundabouts I guess - if they'd bought at pre-crisis LTVs and values they would have been almost immediately plunged into negative equity and then crapping themselves about being able to refinance when their initial deal expired.

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