home loan
How do you know whether the bank classes your home loan as a “subprime” loan?
My loan is fixed rate, my monthly payment is fairly low, and I put down a large downpayment. But it was my first home, and I find myself wondering if I had a “bad risk” loan or a normal home loan, after hearing constant talk about “the subprime lending debacle”. Any info you can offer will be appreciated.
If you put a substantial down payment and have decent credit then chances are real good that you are not in a sub prime loan as these loans are typically out of the ordinary type loans such as no-doc, stated income or even 100% financing which I don’t even think you can get anymore. When in doubt call your lender and ask.
Home Loan Modification Run-Around Continues