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Is the people that get affected by the firesales and preforeclosure bailouts.
If a few people get hosed in your neighborhood you suddenly don't have the equity you think you did and if you need to sell you could get screwed yourself even though you didn't take a bad loan and you didn't ruin your credit etc...
If you're in a small community with only a couple lenders doing the majority of work that can compound the problem even more.