Renae Stucki Realtor discovered an interesting story today on Marketplace.org. Are Subprime mortgages coming back?????
I know exactly what you’re thinking! These tricky mortgages helped create the huge housing bubble that caused the recession! Why on earth would someone want to start them up again?
Well, this article explains the formation of a new mortgage being offered to the general public. It’s similar to a Subprime Mortgage in many ways. It targets the same type of people and has huge fees associated with it. These new loans are called Non-Prime Mortgages and they are about to come on the market in a huge way.
If you’re interested in reading more about Subprime and Non-Prime mortgages, you can follow the link HERE and read the article for yourself.
Then feel free to contact us and let us help you find and purchase your dream home today!