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Many unable to refinance because of higher interest rate of Adjustable Rate Mortgages (ARM), found themselves in a deep bind. Massive defaults and foreclosures soon followed.
By definition subprime mortgage is giving loans to borrowers who typically are not qualified because of their higher risks: income level, work status, and credit history. This also puts the borrowers into a higher rate category than the prime rate. In March 2007, the U.S value subprime mortgage is about $1.3 trillion; $7.5 million of that is bad.
There are many contributing factors that cause the subprime mortgage crisis: slump of the housing market, role of borrowers, role of financial institutions, etc...
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Common topics in this essay:
- Countrywide & Subprime Lending Crisis
- Crisis Subprime
- Identification and analysis Of Value Added And Non-Value Added Steps In Work Processes.
- Subprime Crisis
- Subprime Crisis
- Subprime Mortgage Industry Collapse
- Subprime Mortgage
- Subprime mortgage crisis
- Subprime mortgage
- Subprime crisis
- subprime mortgage crisis
- The Role Of Decision Making In The Pre-crisis Period Of India (15 Marc
- Mortgage Crisis
- The Mortgage Crisis
- The So-Called Crisis
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