Because of the many millions of homeowners who have had their homes foreclosed upon due to these bad loans to bad risk borrowers, banks have swung the pendulum all the way back to the point where no one except the most qualified, high credit score borrowers can even dream of getting a loan.
After the bailout of Wall Street, credit requirements by all the major lenders have become much more stringent. One of the main roadblocks for most borrowers when it comes to getting loans for people with poor credit is that sub-prime lending has all but disappeared from the lending industry.
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