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What are the disadvantages of borrowing from sub prime lenders?
Wiki User
∙ 10y ago
There are a number of potential disadvantages to borrowing from sub prime lenders. Interest rates are often raised after the initial two year period making it difficult to keep up with payments. There are a high number of foreclosure properties linked to sub prime borrowing.
Wiki User
∙ 10y ago
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What lenders do sub prime mortgages?
Not all lenders give the oppurtunity of sub prime mortgages, but one for example that does is the Infinity Federal Credit Union (IFCU). This is one of the posibilities.
What companies were found to be sub prime mortgage lenders?
There are a number of companies that offer sub-prime mortgages that are a valuable tool when looking to purchase a property. Lenders such as; b2b mortgage and the mortgage loan company offer such a service where one can find out information about the types of policies they offer and the rates of repayment for each individual case.
Who were the largest originators of sub-prime mortgages?
The following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority:HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells Fargo
Who will lend to people having low credit scores?
There are a number of specialty near-prime, sub-prime and "hard money" lenders that will lend to individuals having low credit scores. In most cases, the lender to choose depends specifically on what you are trying to get credit for. There are specialty auto lenders, mortgage lenders, personal loan lenders, etc. Please see the attached links for possible lenders.
How do banking regulations affect sub prime mortgages?
Sub prime or not all lenders and the types of loans they do held to the same state regulations. Now some lender said that they were exempt from the state regs due to federal chaters but most stiil stayed with in the state guides. Something specific? what state if so?
What lenders do sub prime mortgages?
Not all lenders give the oppurtunity of sub prime mortgages, but one for example that does is the Infinity Federal Credit Union (IFCU). This is one of the posibilities.
What companies were found to be sub prime mortgage lenders?
There are a number of companies that offer sub-prime mortgages that are a valuable tool when looking to purchase a property. Lenders such as; b2b mortgage and the mortgage loan company offer such a service where one can find out information about the types of policies they offer and the rates of repayment for each individual case.
Who were the largest originators of sub-prime mortgages?
The following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority:HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells FargoThe following lenders are generally considered to be the lenders that originated the greatest number of sub-prime mortgages in their order of priority: HSBC MortgageNew Century Financial Corp.Countrywide Financial Corp.CitigroupWMC Mortgage Corp. (GE)Fremont General Corp.First Franklin Financial Corp.Ameriquest MortgageOption oneWells Fargo
Who will lend to people having low credit scores?
There are a number of specialty near-prime, sub-prime and "hard money" lenders that will lend to individuals having low credit scores. In most cases, the lender to choose depends specifically on what you are trying to get credit for. There are specialty auto lenders, mortgage lenders, personal loan lenders, etc. Please see the attached links for possible lenders.
Is it possible to take the co-signer's name off of your account?
YES> IF the lender determines that your credit score meets their requirements for the loan. Is your credit GOOD enough to got the loan without a co-signor? Yes..In most cases prime lenders will remove if you refi or re-qualify with your credit. No...In the case that you're are dealing with a sub prime lender they will remove the co-signer from the title but not the contract. Some lenders prime and sub prime have different rules but the one listed above are usually the general rule of thumb.
How do banking regulations affect sub prime mortgages?
Sub prime or not all lenders and the types of loans they do held to the same state regulations. Now some lender said that they were exempt from the state regs due to federal chaters but most stiil stayed with in the state guides. Something specific? what state if so?
Why sub-prime crisis is called as Sub-prime?
It is called "sub-rime" because the holding of sub-prime (low credit quality) debt precipitated the crisis.
Can a mortgage become sub prime?
No. It begins life as a sub-prime mortgage.
What are people that are unlicensed lenders who charge illegal rates called?
Loan sharks. If they've a license, it's a payday loan, advance check cashing or sub-prime credit card company.
Will it help your credit if your mom co-signs for you on a car loan after filing for bankruptcy?
depends on who the lender is and how you pay it off. with most lenders(sub prime) you can get the loan anyway if you pay more down.
What are the disadvantages of sub notebook?
nothing but therable
What is the difference between a prime contractor and a subcontractor?
The prime contractor is contracted by the end customer. Sub-contractors are contracted by the prime contractor or other sub-contractors.
