Archive for June, 2008
Sunday, June 15th, 2008
Court Tuttle asked: A sub-prime loan lender is a lender who lends money to borrowers who do not qualify for loans from mainstream lenders. Often these lenders are independent, and yet more are affiliate with prime lenders operating under different names.
The only clear giveaway are their prices, which are ...
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Thursday, June 12th, 2008
James H asked: A decade ago the mortgage underwriting standards were pretty simple: 10% minimum down; P&I not to exceed 25% of your net income, 35% of your gross income.
Is anyone that does not meet these traditional metrics considered a sub-prime borougher?
Or is there some “new and improved” underwriting standard?
I’ve ...
Posted in mortgage | 2 Comments »
Tuesday, June 10th, 2008
Felt B. asked: I'm looking to open a shop and my parents offered to lend me some money to help out. They are taking out a home equity loan to lend me about $35,000 to $55,000. I agreed to pay them back. Because they are taking out ...
Posted in mortgage | 4 Comments »
Friday, June 6th, 2008
mission_viejo_california asked: Would it be wise for the government to bail out those stupid people that took advantage of sub prime loans? I believe you are responsible for your own choices and you should pay the price for your decisions
Last Friday the U.S. Federal Reserve cut the rate at which ...
Posted in mortgage | 5 Comments »
Friday, June 6th, 2008
Lesley Lyon asked: Lenders who offer loans to people with bad credit are known as sub prime Lenders. Offering a loan to a sub prime borrower involves high risk, as the chances of default of the loan repayment are more. Sub prime lenders charge higher interest rates on their loans ...
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Wednesday, June 4th, 2008
David Siegel asked: In recent months, the amount of foreclosures filed throughout the country has more than doubled from the same time period last year. The reasons for such high percentage of filings are numerous. Primarily, the sub-prime mortgages have landed in the hands of individuals who most ...
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Monday, June 2nd, 2008
christofe1 asked: Hello everyone, I need to move to another location. Can I take a home equity line of credit on my existing house to pay for the down payment of a new home, and then sell the first house that I used for the line of credit? Are there ...
Posted in mortgage | 4 Comments »
Sunday, June 1st, 2008
cmarie1125 asked: Are home equity loans 30-year loans, or do they have a shorter term?Arlene
Posted in mortgage | 5 Comments »