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Oct 5
Benefit to Subprime Lending
Taffy Wagner October 5, 2006
Know More: Current News, Types of Loans 2.0, Types of Loans
What is wrong with this title that I saw on Yahoo earlier this morning: "New Study Shows Subprime Lending Significantly Benefits Maine Economy." Should subprime lending ever be a benefit to someone. The article goes on to talk about how it boost  the economy and number of jobs available in the state. What I seem to have a problem with is the fact that consumers that receive subprime lending might not be completely aware of how to manage money so that they do not have to receive a subprime loan. They are paying a higher interest rate because of poor credit. If they receive a subprime loan and are not fully educated regarding the housing process, they could end up in foreclosure. Does anyone else see that title as peculiar?

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