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Subprime Mortgage Crisis

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Subprime Crisis - Sub Prime Loans Definition Glossary of Business Terms - Subprime Crisis

Subprime Crisis : Is a 2007 financial crisis that started in the United States of America from the high number of defaulting borrowers with subprime mortgages.
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The elevated risks that financial institutions were taking with subprime mortgages in the USA began to create problems towards the end of 2006. Borrowers began to default on their loans in higher numbers, which created a global credit crisis. Central banks were forced to inject money into financial markets, more than one hundred subprime lenders in the United States collapsed, and global economic growth was expected to slow.

Problems in the subprime market began to arise in the United States after a real estate boom prompted financial companies to aggressively market subprime mortgages to borrowers that did not have the capacity to repay the loan.

While the subprime mortgage meltdown was mostly an American problem, financial markets around the world have been affected by it.

Also called : Subprime mortgage meltdown, Subprime credit crunch, and US Sub prime crisis.

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