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Definition of economic crisis?
The global crisis occurs when people aren't buying enough goods and services. This then puts business in a bad situation because the demand for goods and services are down and people are saving their money instead of spending it. It's basically when a recession happens and the crisis is that the economy is not coping and business isn't coping. People need more money so that's why the government gives out stimulus packages of money so people can buy goods and services and the economy picks up.
What are the potential risks associated with taking out a subprime loan?
Potential risks associated with taking out a subprime loan include higher interest rates, increased likelihood of default, negative impact on credit score, and potential for foreclosure. Subprime loans are typically offered to individuals with poor credit history, making them more vulnerable to financial instability and debt. It is important to carefully consider the terms and conditions of a subprime loan before committing to avoid potential financial hardships.
What are some causes of global economic melt down?
The global economic meltdown was begun with the collapse of the housing market. Lenders were lending money to buyers who weren't very well qualified. Eventually the housing market collapsed and the value of real estate plummeted, leaving financial institutions holding large loans on properties with less worth. The financial difficulties of the financial institutions had an impact across all economic sectors.
Current global economic crisis?
The Subprime Mortgage Crisis is an ongoing economic problem that has become more apparent in 2008 and has resulted in reduced liquidity in the global credit market and also the banking & financial systems. This crisis has exposed the weakness in the global financial system and also the regulatory framework that is overlooking them. Some of the reasons for this crisis are: 1. The US Real estate market crash 2. High default rates on Subprime loans & 3. Subprime Mortgage backed securities
What are the risks associated with obtaining a subprime home loan?
Obtaining a subprime home loan can come with risks such as higher interest rates, increased likelihood of default, potential foreclosure, and negative impact on credit score. Borrowers may face financial challenges and struggle to make timely payments, leading to potential loss of the home. It is important to carefully consider the terms and potential consequences before choosing a subprime loan.
Why is the world having this financial crisis?
The Subprime Mortgage Crisis is an ongoing economic problem that has become more apparent in 2008 and has resulted in reduced liquidity in the global credit market and also the banking & financial systems. This crisis has exposed the weakness in the global financial system and also the regulatory framework that is overlooking them.Some of the reasons for this crisis are:1. The US Real estate market crash2. High default rates on Subprime loans &3. Subprime Mortgage backed securitiesA Subprime loan is a loan that is granted to a borrower who does not qualify for loans owing to a variety of risk factors like low income level, bad credit history etc
What is your Short comment on global economic crisis?
The Subprime Mortgage Crisis is an ongoing economic problem that has become more apparent in 2008 and has resulted in reduced liquidity in the global credit market and also the banking & financial systems. This crisis has exposed the weakness in the global financial system and also the regulatory framework that is overlooking them.Some of the reasons for this crisis are:1. The US Real estate market crash2. High default rates on Subprime loans &3. Subprime Mortgage backed securitiesA Subprime loan is a loan that is granted to a borrower who does not qualify for loans owing to a variety of risk factors like low income level, bad credit history etc.
What is the definition of subprime lending?
Subprime lending in finance means making a loan to someone who may have difficulty with the repayment schedule. Usually given to those who would otherwise not be eligible for a loan based on credit risk factors.
were can i get a subprime bank loan to buy a house?
You will get the information about subprime bank loan from http://www.hitxp.com/world/09102008.htm website
How can you tell if you am getting a subprime loan rate?
Subprime loan rates usually are between 9% to 24% all depending on the variables presented. Subprime lending is usually granted to those who have less than perfect credit score.
How much is the total size of subprime loan in US?
LOTS
What is the average rate for a Subprime Home Loan?
Subprime Home Loans are for people who have a poor credit history. Therefore the rate depends on personal circumstance, how long the loan is for and what the credit history of the individual is like.
What is Sub-prime?
The Term sub prime is usually used in the context of loans. A prime customer is one who has a very good history and can repay the loan comfortably during the agreed tenure. A subprime customer is one who does not have a good credit history and also does not have enough income to substantiate the loan payments monthly. The loans granted to a subprime customer is termed as a subprime loan...
What is subbing?
The Term sub prime is usually used in the context of loans. A prime customer is one who has a very good history and can repay the loan comfortably during the agreed tenure. A subprime customer is one who does not have a good credit history and also does not have enough income to substantiate the loan payments monthly. The loans granted to a subprime customer is termed as a subprime loan...
How can one obtain a subprime loan?
Subprime loans are offered to individuals with a credit score below 620. Such prestigious financial organizations as Chase Manhattan, BankOne, and Wells Fargo have begun offering subprime loans.
What is Name of money given to a borrower of low income and assets?
subprime loan
What does subprime mean in the dictionary?
Subprime has a couple different definitions. One definition is that subprime means being of less than top quality. Another definition is that subprime means a loan made to a borrower with poor credit rating, usually at high interest rates.
