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Entrepreneur Forum > Other Ways to Make Money > Credit Cards and Banking

What are subprime mortgage loans ?

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Topic: What are subprime mortgage loans ? (Read 480 times)

Spanky

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Joined: Jul 2008
Posts: 17

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Spanky is from United States

United States

Aug 18, 2008, 09:17:24 PM

I hear a lot of people on the news talking about the subprime banking crisis and mortgage meltdown.

What exactly are subprime mortgages ?

Code4Gold

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Joined: Jan 2006
Posts: 6217

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United States

Aug 19, 2008, 10:26:40 AM

Subprime is when a lender writes a risky loan to somebody with questionable credit at a higher rate than the prime rate.

You can read more about the definition of subprime lending here :

http://en.wikipedia.org/wiki/Subprime_lending

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