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2007-12-10 — signonsandiego.com
'For the borrowers who do qualify, Bush's key solution to their subprime mortgage problems is to keep them in subprime mortgages! Once the freeze is over, they'll have to cope with rising adjustable rates, switch to a fixed rate if they qualify, sell their home or let it be foreclosed upon, which could lead to a second round of the mortgage battle. “Freezing adjustable mortgages at teaser rates will only push the problem to the next president,†said University of Maryland economist Peter Morici.'
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