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The Dutch got so crazy about tulip bulbs that they started mortgaging their houses to buy them.
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To stabilize the mortgage market, the central bank started buying mortgage-backed securities in late 2008, including some backed by Ginnie Mae.
She started missing mortgage payments six months ago.
They quickly started missing mortgage payments.
So the Fed started buying mortgage bonds from the banks.
Recently, some banks have started offering mortgages in American dollars with interest rates starting at 8 percent.
Higher yields for government bonds have already started pushing mortgage rates up.
Rates are falling after the Federal Reserve started buying mortgage bonds to help strengthen a housing recovery that began earlier this year.
By July 2006, Mr. Falor hadn't paid back Ms. Cheng and, according to the report, started missing mortgage payments.
Second, banks caught up with changing society, and started issuing mortgages according to the joint incomes of couples, rather than just the higher earner's income.
Meanwhile Fannie and Freddie relaxed their credit standards, and started buying mortgages from borrowers who otherwise would have used the FHA.
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