Archive for October, 2009
Friday, October 30th, 2009
gnmike87 asked: I live in oklahoma. Why is a 691 still considered sub-prime? I thought the cut-off was 680ish. Will I be able to get a decent home loan with this credit rating?Ventless Gas Fireplaces
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Thursday, October 29th, 2009
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 higher ...
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Wednesday, October 28th, 2009
ichabodisitchy asked: We are thinking about getting a home equity loan. We need a new roof and our AC unit is making our electric bill sky-high.
We've never had a home equity loan before, and I'm just wondering if we should go with the company that holds our ...
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Sunday, October 25th, 2009
smiling_chicka asked: My credit isn't perfect and I want to get a home equity loan. What are the qualifications? What lenders look at if you have bad credit? How can i increase the chances of getting one, without waiting for credit to go up?
Would appreciate if you can answers ...
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Saturday, October 24th, 2009
Lesley Lyon asked: A personal loan with an interest rate that is above the prime rate is known as sub prime personal loan, the interest rate being 0.1 to 0.6 percentages higher than the standard interest rate. This is so because since the sub prime borrowers are considered to be ...
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Friday, October 23rd, 2009
cmsb705 asked: A home loan with less than 20% down requires PMI (Private Mortgage Insurance). Since most "sub-prime" mortgages would require PMI, why are banks losing so much money on these loans? Shouldn't it be the insurance companies that lose the money?Rheem Gas Furnace
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Thursday, October 22nd, 2009
draggamo asked: Is Lehman Brothers the issuer of the mortgage-backed securities or the investor of the mortgage-backed securities? And who is the originator of these mortgage loans? Is it Fannie Mae and the like?Wire Closet Organizers
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Wednesday, October 21st, 2009
Michael Marchese asked: A sub-prime mortgage is a mortgage that is extended to people who are not qualified to get the normal mortgage. Most of these mortgages are offered by the same companies that offer the mainstream mortgage but in a different lending institution. The rates for sub-prime mortgages are ...
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Monday, October 19th, 2009
Albert Alexander asked: Home equity loans are sometimes used for consolidating consumer debt or covering a large expense such as a wedding, college expenses, or home repairs to your existing home. Home equity loans are great in that they use the collateral already invested in your home to secure the ...
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Monday, October 19th, 2009
Louis G asked: sub-prime lenders give loans to people with bad credit. It's a small segment of the market. The news is coming out that people are defaulting on these loans.. Why is this suprising? it's a sub prime market. Of course risky loans to people with bad credit are ...
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