I have read a lot about the problems with subprime mortgages recently. Many financial analysts say that subprime mortgages are still a relatively small amount of all mortgages while others say the problem is spreading into prime mortgages as well. I am just curious what percentage of people get a mortgage (all kinds of mortgages both prime and subprime) when they buy a home and what percentage are able to put all cash down (and therefore avoid having to get a mortgage all together).
Mar 012012
I got a letter today from a Countrywide loan representative saying that basically they are transitioning my mortgage (I don’t know if they are doing this for all their mortgages) to B of A. My mortgage began about 5 years ago and it wasn’t subprime. It’s also an 80/15 loan. What does this mean for [...]
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