Can anyone tell me why lenders started making more and more subprime loans to homebuyers?
bush l asked: 15 years ago in the mortgage business, there was no such thing as a subprime loan.
8 years ago, it was a rarity….but something has happened in the last several years.
Sure we can blame the lenders, and sure we can blame the borrowers, but what are the greater market forces and events causing [...]
A website allowing individual lenders to loan directly to borrowers for high rates of interest?
Nonconformist asked: A year or two ago, I read in Business 2.0 magazine about an internet start up that lets lenders connect with borrowers (that don’t have a high enough credit rating to borrow from banks) and loan out smallish (in the ballpark of 500-2000) amounts of money for 15-20% interest rates. Any idea what [...]
Are lenders going after borrowers who’s homes had been in foreclosure to recoup their money?
reliant asked: The money would include the mortgage balance, fees, and any other costs associated with the foreclosure. Is it a general practice for lenders to seek money from borrowers if the home sells at auction and the lenders not getting their full asking price that would recoup their potential loss?
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