Shortly after quick-name rates rose drastically, beginning in summer time out of 2004, subprime fund reset having much larger repayments

Shortly after quick-name rates rose drastically, beginning in summer time out of 2004, subprime fund reset having much larger repayments Meanwhile, the casing ripple burst and you may home prices started initially to slip, so it is problematic for subprime consumers to help you re-finance to raised money otherwise sell the attributes. Foreclosure has spiked. Such as for example cases …

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