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Borrowers of sub-prime loans could face repossession

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  • Borrowers of sub-prime loans could face repossession

    Sub-prime loans are aimed at those who have a poor credit rating. In the USA, an unexpected number of repossessions among these types of borrowers sparked a global financial crisis over the summer. Sub-prime loans account for 55% of foreclosures, which are the equivalent of repossession hearings. Many years of irresponsible lending resulted in financial [...]

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