Solutions For The Homeowner With A Sub Prime Loan – When Will The Cavalry Arrive?

Posted on November 1, 2008 - Filed Under Finance | Leave a Comment

In California and other high-priced areas, many home buyers purchased their homes with sub-prime loans. This group of loans offered a lower payment structure for two to three years with the hopes of refinancing loan into a more permanent loan structure. Most homebuyers that purchased up until 2004 were successful in doing a refinance with the large appreciation that occurred during that time period. For the homeowner who purchased after that period it has been a totally different scenario. Many have found themselves stuck with a loan that they could not refinance due to declining values and loan products that were no longer available.

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