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Stelisha Joh…, Home Buyer in Melvin G Shinn, Wilm...

looking for a sub prime lender

Asked by Stelisha Johnson, Melvin G Shinn, Wilmington, NC Sun Aug 17, 2014

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Despite the notoriety that subprime loans gained as a prime cause of the financial crisis, they are re-emerging, under much more careful control, as one answer to the tight lending standards that have shut out millions of would-be homeowners.

http://www.nytimes.com/2014/06/29/business/in-home-loans-sub…
0 votes Thank Flag Link Tue Aug 19, 2014
Sub prime money is intended to be used by those with a short-term need for financing, primarily for investors and builders. Consumers looking to sub-prime money are repeating the mistakes of the recent and catastrophic past.

If you have a track record as an investor and currently hold fewer than five properties, and not over-leveraged, you should be good to go. I hear Wells is still in the sub-prime business. However, you will be better served by seeking a referral from a Arlington professional
0 votes Thank Flag Link Mon Aug 18, 2014
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