Is this a surprise to anyone? If you understand what subprime loan means then this should not actually come as a shock or surprise to anyone. In my opinion, borrowers who have less than perfect credit are sometimes taken advantage of when offered subprime loans. Yes they should be responsible and understand all the terms of a loan. However, people are sometimes eager to get out of a rental situation and into a house and do not consider all of the factors. Therefore, they get themselves into housing binds that they did not even think about. Everyone has been struggling in this housing market and borrowers with subprime loans are no different.
