Monday, November 26, 2012
Subprime Lending - An Overview
Taking loans for building your home gets easier and accessible with subprime lending. This form of credit supports those who are normally not eligible to apply for home loans from mainstream lenders. Or to say those who have a credit rating below 620 on a scale of 300 to 850. It created a havoc in the US in 2008 and let to overall economic recession. "Subprime mortgage crisis" turned reputed financial institutions like Merill Lynch and Goldman Sachs bankrupt.
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