Why Sub-Prime Mortgages Are Being Offered
A sub-prime mortgage is a type of loan provided to the individuals who have a poor credit history. Due to poor credit history individuals do not qualify for the conventional mortgage (prime mortgages) and the lenders also feel reluctant to give them property on mortgage as they fear they would not get back the mortgage amount and will have to go for foreclosure of property in future. Due to this situation the mortgage companies offer a sub-prime mortgage to the individual with poor credit history.
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