Subprime Loan Blues

As you have probably heard, the subprime mortgage loan market has gone into the tank. There are many reasons for this, but foremost is the desire to lend to just about anyone whether they need it or not. So, what does this mean for you? Well, if you have decent or good credit, it means nothing. You are not a subprime borrower. If you have bad credit, however, you need to give serious thought to working on your credit before applying. There will still be lenders willing to work with you, but the cost of those loans will be obscene.