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, […]
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 […]
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 […]
A Case and Cause for Subprime Lending
Subprime lending is offering financing to an individual who won’t qualify for a conventional loan, on account of having a thin credit profile. Not too long ago, subprime lending suffered from a bad reputation. The housing market experienced steady growth from 1995 to 1999. With the stock market crashing a year later, monies shifted […]
How the Ability to Repay Rule Affects Subprime Loans
Believe it or not, subprime loans are still around – they just have a different name. Yes, the requirements are a little stricter than they were before, but not by a lot. They are not required to follow the same guidelines as conventional loans that must meet the Qualified Mortgage Guidelines, which means that your […]
Three Ways to get your Subprime Loan Application Approved
A subprime loan application typically means that the borrower has less than optimal credit, but that does not mean that getting a loan is impossible. With the right steps, even people with less than perfect credit can get a mortgage loan today. Lenders are beginning to ease up on their tight restrictions in order to […]
How to Prepare for a Subprime Loan
The term subprime loan seems to be a phrase of the past, but it is slowly making its way back into the forefront of the mortgage industry today. The main difference is that you might not hear the word subprime; what you might hear instead is alternative documentation loan. It is the same thing essentially […]