Subprime is back! Well actually, it never really disappeared from the market. Instead, many subprime lenders also exercised more caution in approving this loans to borrowers. Subprime loans are still available to this day. Better days have come since the subprime housing crisis, But have we learned from our mistakes in the past? What Pulled […]
Stay Safe When Taking a Hard Money Loan
A hard money loan is a loan taken with the property value as a collateral. Creditworthiness is a requisite. Most loans of this kind are short-term and offered by private investors. Although they are closely similar to subprime loans, these loans’ LTV ratio is rather lower. Interest rates are also much higher compared to the […]
The Great Subprime Quiz
~ Take this quiz and find out if subprime is the perfect loan for you! Conventional loans are the shiny trophies you get when you maintain a stellar credit record. That is in the perfect world, but not everyone has a score of 680 or higher. And for those who fall below that mark, getting […]
Make Qualifying for Subprimes Easier
Just recently, the subprime market took the heat when forecasts came out that the subprime auto lending industry would drive us into the next global financial crash. Equifax extinguished the fire after with their research showing that this market has remained very stable. While the ghosts of the last decade’s subprime crisis aren’t gone completely, […]
Will there be a Global Financial Crisis in 2017?
If you hadn’t realized, 2017 ends with a 7. And whether you believe in superstitions or it’s just plain coincidence, most crises in the past began in years ending with the number 7. Some of the biggest financial crises our country and the whole world has faced happened in 1987, 1997 and 2007. If that […]
Subprime Car Loans Lead to the Next Financial Crash — Equifax Says, “NO”
Are we driving toward another global financial crash? The Federal Reserve Bank of New York said that is a “significant concern”, looking at the subprime auto loan delinquencies. In the United States, more “already-indebted” borrowers are exploiting this type of car loan. Interest rates for such loans have been at historic lows, making it a […]
Put an End to Your Credit Card Debt Misery
It takes more than money to pay off your credit card debt. It requires motivation and determination to redeem yourself from a debt that’s spiraling down. In a study done by the NerdWallet last 2016, it was established that a household with a credit card debt has a debt average of $16,061. According to […]
On SUVs, Auto Financing and Subprimes
An SUV is one mean muscle machine. It has the power and function of a light truck but is handled like a family vehicle. Not to mention, sport utility vehicles are some of the most beautiful vehicles that exist today. Known for being tough and badass, this automotive vehicle is in a league of its […]
How Primes Affect Subprimes
Prime and subprime loans have a lot of differences. They are on the opposite ends of the spectrum. Though a subprime lender may set his own requirements, it can still be greatly affected by how prime loans are doing in the market. This is evident most especially on the rates subprimes take. Defining a Prime […]
Saving Yourself From Subprime Nightmare
To others, a subprime loan means redemption. To some, it is a nightmare. Subprimes have its pros and cons. And if you applied for one for the right reasons and with ample knowledge of what you’re getting into, you’d less likely be in a nightmare. A subprime loan is known to have very high-interest rates, […]