Source: Credit Suisse
a. Prime - good credit rating
b. Subprime - sub-par credit rating
c. Alt-A – no income proof or asset proof
d. Option Adjustable Rate Mortgages – minimum repayment with teaser rates
Monday, July 6, 2009
Billions of dollars worth of Alt-A and Option Adjustable Rate Mortgages are coming up for resets between now and 2011
Achilles’ heel of the US economy
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