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Opposition housing spokesman Andrew Bragg wants to give a gift to the banks (“Super wars escalate as Coalition leans into mortgage plan”, September 23). At present, if someone gets into negative equity because of slumping house prices, it is not in the interest of the banks to send them broke by taking their deposit and selling the property to cover the mortgage. The value might not be enough, so the banks leave the borrower alone in the expectation that they will pay down the mortgage and restore the bank’s safety. But if the mortgage…

Read the full article at SMH.COM.AU