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Option ARM Problems Far From Finished
Already high delinquency rates on option ARMs are expected to increase due to exceptionally high negative equity, according to Moody’s Investors Service. More than 70 percent of option ARMs securitized between 2005 and 2007 were made to borrowers in California, Florida, Arizona and Nevada, states that have suffered home price declines of close to 50 percent... [Includes one chart]
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