Subprime Loans Repackaged as "Non-Prime" Loans
Subprime loans weren't the only reason why we had the housing crash of the last decade, but they definitely lead the charge. They were never completely gone, but the term "Subprime" still leaves most feeling the pains of short sales and foreclosures.
And that's why Wall Street, who made a killing off of subprime loans before, have repackaged them as "Non-Prime" loans! So will it work? Probably; there will always be a market for these types of loans as long as people with less-than stellar credit buy homes. I just hope that the oversight and underwriting regulations keep the mortgage pools healthy.
Or call to talk to one of our Agents On-Demand: