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former New York State Senator
Jeffrey D. Klein

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Klein Releases Report On Sub-prime Lending Crisis

Jeffrey D. Klein

May 8, 2007

In some cases, sub-prime borrowers are drawn in by a low introductory rate, which then sharply increases within a few years, making it difficult if not impossible to keep up with monthly payments. Unless they can refinance their loan or sell the house, the borrower can lose their home.

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