With the subprime mortgage industry in free fall, where do home buyers with less-than-perfect credit turn for financing?
The news reports are grim. Dozens of subprime lenders closed their doors or cut back sharply on new mortgage offerings. Lenders are also severely tightening the underwriting standards that got them into trouble. As a result, many people who would have been approved for loans months ago now find all the doors closed.
What a great article about the true market condition for the first time home buyers or low credit score but still want to buy a home.
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