The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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From: J. P.	3/5/2007 12:07:34 PM
	Read Replies (4) of 306849

Question about "Sub Prime" mortgages. If you read the popular press, a subprime mortgage invokes images of poor and destitute folks with no jobs gettin' a loan. But aren't subprime loans a lot more mainstream than that? Aren't a lot of working couples buying middle class homes and going to "sub prime" lenders because they have no down payment, and require a first and second mortgage to cover it. Is this not "sub prime". I would be interested in knowing what percent of mortgages out there (particularly on purchases in the last 3 years) were considered subprime, and what a typical demographic of a person getting a subprime loan really was.

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