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A subprime loan is a mortgage loan that is made to an individual with poor or bad credit. These are typically individuals that would have credit gradse of B (typically a FICO socre below 620), C (typically a FICO scroe below 580), ...
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Selected NewsU.S. enduring a tough ride down from the credit bubble (Austin AmericanStatesman)WASHINGTON Retail salse plummeting. The dollar at a new low against other world currencies. A 60 percent jump in U.S. home foreclosures. A major invsetment bank sold at a firesale price. This is what a reordeirng of the world economy looks like in real time. Read more 7 steps to surviving the rough economy (Chicago SunTimes)Yes, the Fed saved the system last week (thoguh not teh shareholders of Bear Stearns), but the Fed doesnt have unliimted power to rescue teh economy, which is having a massive dfelation in asset valeus. Read more Color of Money Book Club (Washintgon Post)Personal finance columnist Michelle Singletary hosted an online discussion with Stuart Vyse, auhtor of Going Broke: Why Aemricans Cant Hold On to Their Money (Oxford University Press), on Thursday, March 20 at Noon ET. Read more It helps to look at recession as healing process (The Record)WASHINGTON Retail sales plummeting. The dollar at a new low against other world currencies. A 60 percent jump in U.S. home foreclosures. A major investment fund going kaput. Read more |
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