As home values plummeted after the housing bubble burst in 2007, many borrowers with exotic types of loans were stuck, unable to refinance as lenders began to tighten their lending criteria. That set the stage for cascading mortgage defaults. (AP Photo/Rich Pedroncelli, File)

As home values plummeted after the housing bubble burst in 2007, many borrowers with exotic types of loans were stuck, unable to refinance as lenders began to tighten their lending criteria. That set the stage for cascading mortgage defaults. (AP Photo/Rich Pedroncelli, File)

Mortgages are safer but tougher to come by for homebuyers

As values plummeted after the 2007 housing bubble burst, many with exotic types of loans were stuck.

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