Quote:
Originally Posted by classicman
It seems that yes the subprime mortgages are the biggest issue, but even with the other types of mortgages, the ARM's default at more than double the level of the others.
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Most sub prime loans, particularly those after 2000, when sub primes soared with the housing boom from well below 10 percent of mortgages in the 1990s to nearly 20 percent by 2007, were adjustable rate....and were un(under)regulated.