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Elmira Nancy
Joined: 13 Nov 2009
Posts: 28
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| Posted: Thu Nov 26, 2009 5:01 am Post subject: What is a high risk mortgage? |
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| I'm hearing a lot in the news lately about "high risk mortgages". I was wondering what they are, exactly? What constitutes as a high risk mortgage? Not being able to make payments every month? Or credit scores? |
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EricJ
Joined: 09 Jan 2009
Posts: 321
Location: New Jersey
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| Posted: Fri Nov 27, 2009 8:45 pm Post subject: |
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| It is a combination of various factors...High LTV, Low Credit scores, etc |
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JPowell
Joined: 20 Jan 2010
Posts: 103
Location: PA
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| Posted: Fri Jan 29, 2010 8:29 pm Post subject: |
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I'm pretty sure a mortgage is assessed as high risk before it's even assigned.
I know it's based on credit scores (and history) including things like bad accounts, high utilization, etc |
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