Coming soon from a mortgage lender near you: subprime loans.
Really? Weren't they banished to the dustbin of history?
Well, some types, such as the "liar loans" that required no proof of income, may be gone forever. But the idea of granting mortgages to people with less-than-perfect credit has a growing appeal for lenders.
"It won't be unfettered and there will be restrictions, but frankly, subprime lending will have to come back," says Keith Gumbinger, vice president of mortgage-information firm HSH.com, in a report on the firm's website.
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