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Fixed Rate

Long-term unemployment woes increasing rate prime mortgage foreclosures

by Constantine von HoffmanJune 9, 2009 Bailout

As the unemployment rate continues to grow it is hitting an increasing number of people who had prime mortgages. The result is a huge increase in foreclosures among primes. In the first three months of the year, prime fixed-rate loans accounted for nearly half of the increase in foreclosure proceedings, according to the Mortgage Bankers [...]

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