Yahoo Answers is shutting down on May 4th, 2021 (Eastern Time) and beginning April 20th, 2021 (Eastern Time) the Yahoo Answers website will be in read-only mode. There will be no changes to other Yahoo properties or services, or your Yahoo account. You can find more information about the Yahoo Answers shutdown and how to download your data on this help page.
Trending News
Is it true that the dilenquencies of sub-prime mortgagers ruined mortgages of people that Were making their...?
payments?
How many mortgages were lost and how many were sub-prime?
And it was the sub-prime mortgages that foreclosed first since interest rates began defaulting in the last quarter of '05?
3 Answers
- estielmoLv 71 decade agoFavorite Answer
The only mortgages that are ruined are those that were not structured properly. Those who are panic-selling are also losing out.
- Expert8675309Lv 71 decade ago
The problem was, the sub-prime market never should have existed.
They gave loans to people who had horrible credit to start with, sketchy sources of income, or even worse, let them routinely borrow more money than their home was even worth.
Over 90% of subprime loans were ARMS, and they adjust faster, more often, and with higher margins than A-paper ARMS.
So it is no surprise to me that the subprime market has all but went out of business.
In 1995, the mortgage market was still booming.
- Ed AtunLv 71 decade ago
It is true. But they did not mean to hurt anyone. They just wanted to buy a house..
