List of Top Non-Prime Lenders of 2018 – Subprime …
You can take out a huge mortgage that you can’t afford to pay because you are retired and on SS. Part of the money borrowed is used to make the monthly payments, and part of it is used to give yourself a monthly payment like an annuity. You do this until you die, at which point the house becomes the property of the lender. You don’t give a ratzass because you are dead. Hopefully you die before the cash runs out.
Subprime Mortgage Loans - Nationwide Mortgages
I find it absurd that the during the financial crisis(es) that the consumer was blamed for taking on too much more mortgage debt–not the banks and debt houses, such as Goldman and Washington Mutual. The only “predatory lending” I see in this article is Visa and Masterfraud. Of course, they never seem to run out of money to lend, even at stupid rates of 30 percent.
The chart below shows a similar pattern of rising delinquencies by vintage, but this one shows those from pre-Financial-Crisis subprime mortgages:
Subprime mortgages are coming back
Subprime mortgages may have played a major role in causing the Great Recession, but that isn't stopping people in the financial industry from trying to bring them back.
Subprime mortgages and the housing bubble - …
Subprime mortgages, which are now being referred to by many as "nonprime" mortgages, are expected to generate roughly $10 billion in 2017, . The industry's growth is being helped by President Donald Trump's administration, which has ordered federal agencies to review almost all of the financial rules passed by his predecessor, President Barack Obama.