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I think it means Lending money to people who have bad credit at a lower interest rate ex; ARMS. and then when interest rates go higher , these people can't afford there payments, and end up in forecloseure Some of these loans were 100%+ financing. Meaning if the price of the house drops by 1% the owner would be in the red. If they ever sold the property at a lower price they would not be able to cover the cost of the loan.
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∙ 15y ago
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What is sub prime lending?
In finance, subprime lending (also referred to as near-prime, non-prime, and second-chance lending) means making loans to people who may have difficulty maintaining the repayment schedule, sometimes reflecting setbacks such as unemployment, divorce, medical emergencies, etc. Historically, subprime borrowers were defined as having a FICO score below 640, although "this has varied over time and circumstances."
What does the aumred mean?
Do you mean ''What does the AUM Mantra mean?''
Does mean mean average?
No, but sometimes "average" means "mean" - when it doesn't mean median, geometric mean, or something else entirely.
Did he had the concept of venn diagram?
The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.The answer will depend on who you mean by HE.
What does the word mean mean?
See mean-8. Or get a dictionary.
What does subprime mean in the dictionary?
Subprime has a couple different definitions. One definition is that subprime means being of less than top quality. Another definition is that subprime means a loan made to a borrower with poor credit rating, usually at high interest rates.
What do you mean by subprime crisis?
The Subprime Crisis is an economic problem that happened in the United States. It cannot be explained in a paragraph or so. In short, it happened due to uncontrolled lending in the US Financial Markets. Some of the reasons for this crisis are: 1. The US Real estate market crash 2. High default rates on Subprime loans & 3. Subprime Mortgage backed securities
Are they doing any subprime loans anymore?
are they doing subprime loans anymore
What are the release dates for Subprime - 2010?
Subprime - 2010 was released on: USA: 17 September 2010
How can one obtain a subprime loan?
Subprime loans are offered to individuals with a credit score below 620. Such prestigious financial organizations as Chase Manhattan, BankOne, and Wells Fargo have begun offering subprime loans.
Finding Cheap Subprime Auto Loans?
The word cheap and subprime are not typically used in the same sentence, especially in a down economy. Even with that said, there are some ways to get decently rated subprime auto loans. If you are going to do it, you will have to have something to counteract your subprime credit. This might mean going to a lender that will value your current financial situation over your past. If you have a good job now and you are able to put down a nice payment, they will likely cut you a little bit of slack and give you an excellent loan.
were can i get a subprime bank loan to buy a house?
You will get the information about subprime bank loan from http://www.hitxp.com/world/09102008.htm website
What information is available on Subprime auto leads?
There is a lot of information available on subprime auto leads. The best places to look for subprime auto leads would be to visit used car websites like eBay or Auto Trader.
How can you tell if you am getting a subprime loan rate?
Subprime loan rates usually are between 9% to 24% all depending on the variables presented. Subprime lending is usually granted to those who have less than perfect credit score.
Where can one get current information about subprime auto loans?
Subprime auto loans are loans taken out by individuals with poor credit records to purchase automobiles. Information concerning subprime auto loans can be found on finance specialist websites such as Edmunds.
What are steps to acquire a subprime mortgage?
When you are applying for a mortgage ask your lender about how to acquire a subprime mortgage. They will walk your through it and advise as to if this is the best option for you.
Is it smart to apply for a subprime mortgage?
If you can handle the terms of the subprime mortgage then it is ok. But you need to be sure that you have the money to cover it, because you are gambling with your future if you do not.
