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Why adjustable rates may save us in housing busts

Posted on 22 November 2012

This just in! Cutting a homeowner’s mortgage payment in half can reduce the likelihood of delinquency and foreclosure. That sounds like a no-brainer, but it’s a conclusion in a recent report by researchers at the Boston and New York branches of the Federal Reserve.
In fact, the question of what makes homeowners stop paying their mortgage — being unable to afford the payments or being too far underwater — has been a matter of some debate through the foreclosure crisis………………………………………..Full Article: Source


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