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Adjustable Mortage Resets To Really Hit the Fan in 2008

By mmc_digg ⋅ May 28, 2008 ⋅ Email this information ⋅  Print this post ⋅ Post a comment

In 2008 interest rates will be reset upward on $362 billion worth of adjustable-rate subprime mortgages [ARMs] — a scenario that could significantly worsen the already serious subprime crisis, according to a report in Saturday’s Wall Street Journal.

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