Sub Prime Loans are back!

We are seeing the first of the Sub-Prime loans making a come back ! Hopefully they are a bit smarter this time around, asking for more money as a down payment,and doing a full doc. loan.

 Looks like 25% to 40% and rates of 8% to 10% at this time. Two of the early lender are : Citadel Loans and Carrington Mortgage, both out of Southern CA.

Perhaps this will help until they can get a conventional loan.

http://articles.latimes.com/2013/apr/27/business/la-fi-subprime-mortgage-20130427

 
 
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~ by Llew Quinol on May 3, 2013.

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