These borrowers possess one or more of the following risky characteristics: they can make little or no down payment, their property consists of something different than a home for a single family, they are unable to report the entirety of their assets or income, their credit scores are lower than they should be, they have low income compared to their total expected expenses, and their adjustable mortgage rate is such that could result in considerably higher payments in the future.
Related information about blemished borrowers:
- What is blemished borrowers? definition and meaning
Definition of blemished borrowers: These borrowers possess one or more of the following risky characteristics: they can make little or no down payment, their ...
- HR 3915 Would Stick it to Blemished Borrowers - Mortgage Professor
Nov 19, 2007 ... In the wake of the sub-prime crisis, the market has turned against all except " cream-puff borrowers" -- those with no weaknesses.
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Jun 24, 2008 ... Washington Mutual Inc., burned by subprime mortgage losses, has been issuing credit cards to borrowers with blemished credit records as it ...
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Housing counseling agencies are increasingly using technology — and partnering with lenders — to help unbanked consumers, credit-blemished borrowers, ...
- High-risk borrowers face sky-high rates, but cards can be used to ...
Dec 20, 1999 ... Considering that the average APR for someone with decent credit is between 13 and 16 percent, rates for blemished borrowers seem merciless ...
- Breckenridge Colorado Mortgage Resources
Credit-Blemished Borrowers- Home Ownership is Possible! In a lot of cases an experienced Mortgage Banker can help credit-blemished borrowers obtain home ...
- California Mortgage Center- Credit Information Confirmation
Some lenders help credit-blemished borrowers obtain home financing... Your credit report may be full of dings, compounded with a history of foreclosure and ...
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Subprime ARMs were made to credit blemished borrowers and came with low teaser rates that reset to higher rates after two or three years, making the loan ...