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Type of subprime loan. Web A subprime mortgage is generally a loan that is meant to be offered to prospective borrowers with impaired credit records.
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Type of subprime loan where borrower has fixed interest rate for first two years and variable.
. Web Subprime mortgages are loans granted to borrowers with low credit scoresusually below 600who would not be approved for most conventional. No Income Verifiable No Assets. ARMs are also sometimes.
Web Adjustable-Rate Mortgage ARM. A mortgage in which the interest rate of the outstanding balance varies across the lifespan of the loan. Web The subprime mortgage crisis After staying low throughout the early 2000s interest rates began to rise starting in 2004 in response to an overheating economy and.
The higher interest rate is intended to.
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