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It is a mortgage that charges less interest than the market rate for a limited period of time. Many people borrowed more than they could afford because they were convinced they would be earning more money and would be able to afford the higher payments when the preferential interest rate ended. Unfortunately, many of them were wrong.
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What loans were partially responsible for the home mortgage crisis during the 2000s?
Sub-prime
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.
What happens to the sub-prime mortgage bonds when people begin to default on loans?
Investors lose their investment.
What does bad credit mortgage rate mean?
A bad credit mortgage is sometimes called a sub prime mortgage. It is for people with low credit rating who wish to purchase a house. Due to the risk of lending to such people, the rate will be slightly higher.
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 is sub prime mortgage and what does it do?
A sub prime mortgage is a type of mortgage in which you are paying a lower prime rate for the home you are buying. You could seek financial information from an attorney or financial rep.
What is toxic waste in the mortgage market?
sub-prime mortgages
What are the dangers of getting a sub prime mortgage?
Sub Prime Mortgages are a big risk and not advisable by most financial advisers. They offer really bad rates and do not keep your Mortgage safe and at a reasonable rate.
What does sub prime mortgage leads mean?
Sub prime mortgage leads are potential mortgages for people who are not an ideal candidate for a loan. This can be because of a poor credit history, recent bankruptcy or low paying job.
What are sub primes?
Sub prime can be used in two aspects 1. Sub prime customer - A customer who does not have a great credit history and does not have the income to pay the monthly mortgage payments on the loan he is asking for 2. Sub prime Loan - A loan that is granted to a sub prime customer If you have a monthly income of $10000 and you ask for a mortgage loan with monthly payment of $4000 then you are a good customer If you have a monthly income of $4000 and you ask for a loan with monthly payment as $10000 then you would be a sub prime customer
What are different types of mortgages, and which is right for me?
A sub prime mortgage is a mortgage that would be right for you if you are looking to pay a lower prime rate for your payment after buying your new home.
What loans were partially responsible for the home mortgage crisis during the 2000s?
Sub-prime
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.
What happens to the sub-prime mortgage bonds when people begin to default on loans?
Investors lose their investment.
Where can I get a great sub prime mortgage?
The fixe rate of interest on a sub prime rate would be anywhere between 1% to 5%. The companies that have these fixed rate mortgages are Countrywide, Quicken Loans and Bank of America.
What determines a bad mortgage?
The term bad mortgage is a mortgage which has a terrible interest rate or is unsuitable for the assets in question. Alternatively the term bad credit mortage is often called a sub-prime mortgage which is commonly offered to people with bad credit ratings.
