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pickupchik [31]
3 years ago
6

3. What relationship existed between subprime mortgages and foreclosures when home prices fell?

History
1 answer:
eduard3 years ago
3 0
The relationship that existed between subprime mortgages and foreclosures when home prices fell is: <span>B.Many people with subprime mortgages could not make their payments, so foreclosures increased 

Subprime mortgages are typically given to the borrowers with low credit ratings. To compensate with the low credit ratings, the lenders usually impose pretty high-interest rates, which often cause the borrowers to unable to pay their loans.</span>
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"The mistaken policy of the Stamp Act first disturbed this happy situation; but the flame thereby raised was soon extinguished by its repeal, and the old harmony restored, with all its concomitant advantage to our commerce. The subsequent act of another administration, which, not content with an established exclusion of foreign manufactures, began to make our own merchandise dearer to the consumers there, by heavy duties, revived it again; and combinations were entered into throughout the continent to stop trading with Britain till those duties should be repealed. All were accordingly repealed but one, the duty on tea. This was reserved (professedly so) as a standing claim and exercise of the right assumed by Parliament of laying such duties." ~ Benjamin Franklin

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"We were merry, in an undertone, at the idea of making so large a cup of tea for the fishes." ~ Joshua Wyeth


http://www.historyplace.com/unitedstates/revolution/teaparty.htm - Here's a website with the entire eyewitness account






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