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Simple English definitions for legal terms

subprime mortgage

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A quick definition of subprime mortgage:

A subprime mortgage is a type of loan that is used to buy a house, but it is given to people who have a lower credit score or a history of not paying their debts on time. This type of loan can be risky because the borrower may have trouble paying it back, which can lead to financial problems.

A more thorough explanation:

A subprime mortgage is a type of loan that is given to people who have a low credit score or a poor credit history. These loans are used to buy property, such as a house. Subprime mortgages are considered to be riskier than traditional mortgages because the borrowers are more likely to default on the loan.

John has a credit score of 550 and wants to buy a house. He applies for a subprime mortgage and is approved for a loan with a high interest rate and unfavorable terms. Because of his low credit score, John is considered a high-risk borrower and is charged more for the loan.

Another example is Sarah, who has a history of missed payments and defaults on her credit report. She also applies for a subprime mortgage and is approved for a loan with even higher interest rates and stricter terms.

These examples illustrate how subprime mortgages are given to borrowers who are considered high-risk due to their credit history. The lenders charge higher interest rates and impose stricter terms to compensate for the increased risk of default.

subprime loan | Subrogation

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MIAMI A
[] AromaticTroubledDormouse
20:55
How does one know if they are UR1 or UR2?
[] AromaticTroubledDormouse
20:56
CONGRATS MACAQUE!
TY
got a random stanford email and almost had a heart attack
ALSO CONGRATS!
Congrats1!
21:15
Miami A, yall I'm so excited I could cry.
21:15
Feel like I can finally stop holding my breath!! Whew!!!
[] baddestbunny
22:16
every time I get accosted by a strange man who follows me around because my male coworkers were too busy talking to walk me back to my car I get closer to saying we need to bring back traditional gender roles
Dkk
22:32
Nice! @Macaque
Dkk
22:32
@Aromatic, Have to guess.
Dkk
22:33
That sucks @Bunny do you have to go to the hospital?
[] baddestbunny
22:40
I said accosted not assaulted
23:35
guys. my notre dame address just went long is this good or bad
1a2b3c4d26z
23:37
Oooooo me too
23:37
omg is this good or bad
Dkk
23:47
Idk if gender roles are gunna fix that then.
23:49
it looks like most people who applied in october last cycle didn't get a decision until january... does it even mean anything that our addresses went long??
hows ED 2 compared to ED 1?
Dkk
0:10
No idea
windyMagician
0:34
reporting live to say my ndls address also went long
does it mean anything ^
Dkk
2:21
NDLS and Fordham took a very long time last year. It's good info for people to know.
[] baddestbunny
4:29
let’s get after it boys and girls
Dkk
5:21
I gtg to bed soon.
Dkk
5:22
Big day today. Gunna be a crazy one. I will sleep through the first half.
good morning lsd it is 5 am EST
also jazzy my ndls address went long ages ago i sadly do not think it means anything
my stanford address also went long LOL i think at most it's an indicator it's under review
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