"Sub-Prime" Lenders and Politically Correct Terms
If you want to get up to date, change your language and your labels. "Sub-Prime" lenders now get the label "Non-Prime" lenders.
I just read an article by an author promoting a website filled with goggle ads and no real content. The article said you can get a loan if you have bad credit.
Sure, you can get a mortgage with poor credit, but you will pay a lot more for your loan and higher monthly payments.
If you see articles on sub-prime lending practices, make sure you get the rest of the story. Besides paying more money for your mortgage loan, you may also pay hidden fees with a yield-spread premium. For more information, read about Predatory Lenders.
Improve your credit with help at the Real Estate Credit Help Center.
I just read an article by an author promoting a website filled with goggle ads and no real content. The article said you can get a loan if you have bad credit.
Sure, you can get a mortgage with poor credit, but you will pay a lot more for your loan and higher monthly payments.
If you see articles on sub-prime lending practices, make sure you get the rest of the story. Besides paying more money for your mortgage loan, you may also pay hidden fees with a yield-spread premium. For more information, read about Predatory Lenders.
Improve your credit with help at the Real Estate Credit Help Center.
posted by Jeanette at Sunday, November 06, 2005
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