ummm that's 80% of subprime ended up actually being subprime On Wed, Feb 3, 2010 at 4:27 PM, Casey Dougall > > > http://en.wikipedia.org/wiki/Subprime_mortgage_crisis > Approximately 80% of U.S. mortgages issued in recent years to subprime > borrowers were adjustable-rate > mortgages<http://en.wikipedia.org/wiki/Adjustable-rate_mortgage> > .[2]<http://en.wikipedia.org/wiki/Subprime_mortgage_crisis#cite_note-DODD-1>After > U.S. house prices peaked in mid-2006 and began their steep decline > thereafter, refinancing became more difficult. As adjustable-rate mortgages > began to reset at higher rates, mortgage delinquencies soared. Securities > backed with subprime mortgages, widely held by financial firms, lost most of > their value. The result has been a large decline in the capital of many > banks and U.S. government sponsored enterprises, tightening credit around > the world. > > 80% of all mortgages !!!!!!!!!!!!!!!!!!!!!!!!!!! > Adjustable rates are the problem.... People could afford the home when they > bought it but then the rates went up... It's stupid on their end no doubt, > but... > >
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~| Want to reach the ColdFusion community with something they want? Let them know on the House of Fusion mailing lists Archive: http://www.houseoffusion.com/groups/cf-community/message.cfm/messageid:311614 Subscription: http://www.houseoffusion.com/groups/cf-community/subscribe.cfm Unsubscribe: http://www.houseoffusion.com/cf_lists/unsubscribe.cfm?user=89.70.5
