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	<title>The Public Purse &#187; mortgage securities</title>
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		<title>From Mortgage Resets to Mortgage Recasts</title>
		<link>http://www.thepublicpurse.com/2010/01/14/from-mortgage-resets-to-mortgage-recasts/</link>
		<comments>http://www.thepublicpurse.com/2010/01/14/from-mortgage-resets-to-mortgage-recasts/#comments</comments>
		<pubDate>Thu, 14 Jan 2010 22:11:51 +0000</pubDate>
		<dc:creator>Natalie Cohen</dc:creator>
				<category><![CDATA[housing mess]]></category>
		<category><![CDATA[California]]></category>
		<category><![CDATA[fiscal stress]]></category>
		<category><![CDATA[Florida]]></category>
		<category><![CDATA[mortgage securities]]></category>
		<category><![CDATA[Nevada]]></category>

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		<description><![CDATA[A particularly toxic form of adjustable rate mortgage is going to hit the headlines in the spring and summer of 2010 with defaults, foreclosures and workout discussions extending into 2012.  “Option ARMs” also known as “Pick-a-pay” allow the borrower to choose how much to pay each month and reports indicate 94% of all borrowers paid [...]]]></description>
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