for 23% of the market as of December 31, 2006. In 2006, $1.93 trillion of mortgage debt was issued on the US bond market; this is roughly the GDP of the United Kingdom, and is larger than any other debt category.

Risks

The risks associated with mortgage notes are very similar to those of bonds:
* credit risk, i.e., the risk that the borrower will default
* You will foreclose and get your money back
* prepayment risk

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