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The price of property is increasing from time to time, this is caused due to the increase in population that will result to property demand is also increasing but the quantity remains the same. In the big cities, it is hard to find affordable housing not to mention Short Sale Proces properties especially when the space is limited. However, there are those wealthy people that are investing their money on the property industry and are eager to expand their investment even to other countries. Suite for people that are looking Short sale property as a way out or even a place to live in the future for the buyer.

Sub-prime lending is a type of credit given to homeowners who do not meet the criteria for regular (“prime”) loans. A typical sub-prime borrower has a poor or limited credit history and a FICO score of less than 620. These factors make them a risky investment for regular lenders, which keeps them from taking out loans. To compensate for the risk, sub-prime lenders impose higher costs on their contracts. For credit cards, this is usually a higher fee for over-the-limit spending or late fees. Sub-prime mortgages usually have higher interest rates and stricter terms.

Contrary to popular belief, sub-prime lending is a perfectly legal business. But like many new industries, it has been tainted by lenders who don’t play by industry standards. From 2003 to 2007, shady companies have turned up offering terms ranging from unfair to downright illegal. This, along with the economic slowdown, has contributed a great deal to the real estate crisis that forced many homeowners into foreclosure. (more…)