Finding Opportunities: Subprime Lending Crash
August 7, 2007 by Miranda Marquit
Filed under Finance
There are many opportunities for yielding wealth and using good personal finance sense all around. One of the most recent opportunities in disguise is the subprime lending crash.
There are many lessons to be learned from the subprime lending crash. One of those is that you should be carefully of what kind of mortgage loan you get. Another is that good credit can be invaluable.
The fact of the matter is that if you have good credit, there you can still get a house, despite the tightened lending standards. And, you can take advantage of lower mortgage rates, since the mess is making home buying rather unattractive at this time and lenders want to lure buyers in.
If you can swing it, now may be a good time to make an investment in a second home. For all the reasons listed above. And the special tax adavantages that come with an investment property.
The idea behind yielding wealth is to look for opportunities that come from disasters. If you keep yourself in a good place financially, then you will be poised to take advantage of what comes along.
hi Miranda, I’ve been waiting for b5 to come up with this blog! welcome to the community!
So how long doyou think this crash will last?
That’s a good question. Short answer: I don’t know ;0) But I’m sure the subprime shakeout is going to last at least a few more weeks, even though I fully expect the stock market to start moving in a generally positive direction fairly soon. The economic news isn’t bad, and there’s some hope ahead. So I’m cautiously optimistic…and picking stocks that I think will recover nicely over the coming months.