Good Borrowers Getting Bad Loans

Published on:
12 September 2006 at 10:20 a.m. ET

Written by: Unknown Author –

http://www.insidearm.com/news/00015540-good-borrowers-getting-bad-loans/

Low interest rates and aggressive marketing campaigns have driven home lending to record levels. But increasingly Americans with good credit are being saddled with loans designed for high-risk borrowers.

These higher-cost loans have been the fastest-growing segment of the mortgage market, accounting for 20 percent of the home loans issued last year, up from 10 percent a decade ago.

Freddie Mac, the government-sponsored mortgage financer, estimates that more than 20 percent of people who obtain these sub-prime loans could have qualified for prime loans.

For this complete story, please visit Good Borrowers Getting Bad Loans.

Good Borrowers Getting Bad Loans

Unknown Author

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