With the arrival of subprime mortgages in recent years, a new kind of "trigger" event became apparent in leading households to default. Which of the following trigger events is primarily associated with most defaults that have occurred during the most recent subprime mortgage crisis?

Question

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Mortgage payment spikes, often due to adjustable rate mortgages resetting to higher interest rates, have been a primary trigger for defaults during the subprime mortgage crisis.

With the Arrival of Subprime Mortgages in Recent Years, a New