What Is A Subprime Mortgage

Answer for "What is a subprime mortgage?"

Paul  Tangalan
  La Rosa Realty In Clermont

A subprime mortgage is a mortgage granted to a borrower who is considered subprime-that is, a person with a less-than-perfect credit report. Subprime borrowers have missed payments on a debt or have been late with payments. Lenders charge a higher interest rate to compensate for potential losses from customers who may run into trouble or default.

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