Not exact matches
The problem has
gotten worse as the
subprime lending market continues to expand.
When enough people do it, and you've
got a bit of momentum from this massive credit echo boom, part of this whole boom in
subprime and non-
subprime lending has been underwritten by historically safe money.
Get back on the road today in a car from one of our national car dealerships that accept bankruptcy clients and specialize in
subprime lending.
Did you save up a downpayment while simultaneously carrying tens of thousands in debt, or did you
get a zero down mortgage during the
subprime lending salad days?
Subprime lending is a dangerous market if you do not know how it works, thus,
getting aid from an advisor is the smart way to go.
Many consumers are good borrowers that do not fit into a perfect box so non-prime mortgage loans become very appealing when
subprime mortgage lenders
get the flexibility they need from the banks to loosen
lending standards.
Because the risk is higher for
lending companies to take a chance on
subprime borrowers, they are charged higher interest rates for the privilege of
getting a loan.
Anything under 600 can
get you into
subprime lending territory, where you really don't want to be.
Fannie and Freddie became fairly large players in the
subprime market, and they
got that way by following the rest of the market down in lowering
lending standards, etc..
Capital has backed away from
lending to
subprime borrowers, and the concern is that Congress will make it even harder for capital to
get to borrowers who'll need it to refinance over the next couple of years,» says George.
The reason the number of affordable /
subprime mortgages skyrocketed during the boom was because lower
lending standards mean more people can
get mortgages and that means mortgage companies can sell more mortgages.