Mortgage Defaulters See More Access to Loans

The housing bubble and bust has put otherwise responsible borrowers into bad situations. According to this Wall Street Journal article, most of the major lenders will consider making loans to those who have defaulted in their mortgages as long as they are current on their other loans. According to A Wells Fargo spokesperson, this group of borrowers are among the attractive candidates for new loans. A higher interest rate will likely apply based on the prior default. Read more

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