Sub Prime deals

[OregonLO]

It's amazing to see how many lenders will give a client a rate that isn't that far off of A paper rates. Questions? feel free to ask.

[Fidelity One]

Since most people don't understand the mortgage business, they tend to look at only the rate they are offered. The problem in the market today is that people were looking at home equity loans as free money and now are losing their houses.

If can say I did the same thing to some extent but was able to sell my house and pay off the money I owed on the house without losing anything.

I have now bought a new house and unless I am paying for my kids college needs, I won't look at accessing the equity in my house again.

Instead, I will access the equity in my car. I own the car, and if I need cash fast, I will pay a little higher rate to use the equity of my car. Then if for some reason, I can't pay it back, I still own my home.

Think about it. It is easier to replace a car than a home.

[Icanhelp]

Because of all the sub-prime loans we now have a massive default rate.
Most people stuck in a sub-prime loan are in default or about to get in.
For most the only hope for saving their homes is a loan modification.