Is your mortgage an “exotic debt-trap”

If you have an adjustable rate mortgage (ARM), can you afford the new payment?

The only question I have is whether the banks will be able to cash in on all those repossessed houses after the real-estate tumble, or will prices be so low that they also lose their shirts?

Exotic debt-trap mortgages about to turn on their owners,” boingboing, August 30, 2006

Posted in: Caught Our Eye

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