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What do you mean by sub prime loan?

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These are high interest loans usually taken out by borrowers with poor credit. Normally, borrowers opt for these loans when they don't qualify for traditional mortgage loans.

Sub: #1 posted on Mon, 12/20/2010 - 01:59

Good Nelly Good Nelly
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(Posts: 2825 | Credits: )

Sub-prime loans are a thing of past. It was due to these sub-prime mortgages that we are facing a severe crisis in the real estate market. Such loans were offered to those borrowers who did not meet the required lending criteria and had very high interest rates.

Sub: #2 posted on Wed, 12/22/2010 - 00:56

Anna Sweeting Anna Sweeting

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