This type of mortgage, they called them mortgages subprime i. Mortgages are called prime which have little risk of default. On a scale of 300 to 850 points classification, prime mortgages are valued between 620 and 850 points the best the least good. II. mortgages called subprime that have more risk of default and are valued between 620 300, and the least good weed. Furthermore, as the American economy was going well, the now insolvent debtor could find work and pay the debt without problems.
This approach was good for some years. In those years, the ninja were paying the mortgage terms and, moreover, as had given more money than their home was worth, had bought a car, had made reforms in the House and they had gone on vacation with the family. This, surely, to deadlines, with more money who had claimed and, in some cases, with What paid in some employment or fudge that had managed. 1st. comment: I think that, so far, everything is very clear and is also clear that any person with common sense, although it is not a financial specialist, may think that, if something goes wrong, the bump can be important. As for the second (increase in the number of operations): as banks were giving many mortgage loans, had just been them money. The solution was easy: go to foreign banks to provide them money, because for something is laglobalizacion. This, money that I, this morning, I joined the Central Office savings of San Quirze safaja may be that afternoon at Illinois, because there is a bank to which my savings has provided my money to lend it a Ninja. Of course, Illinois does not know that money comes from my people, and I don’t know that my money deposited in a serious entity such as my savings, begins to be at some risk.