keepingintouch

Women and the Subprime Crunch - International Museum of Women

Women borrowers are overrepresented in the subprime lending market according to studies done by both the Consumer Federation of America and the National Community Reinvestment Coalition. Across the economic spectrum, women receive less favorable terms than similarly situated men on home purchase, refinance, and home improvement loans. The studies also show that the gap between women and men receiving subprime loans actually increases as women’s income increases.

We had a one of those toxic mortgages. Just last month we were able to get a mortgage modification. It helped a lot. If any of you have a mortgage that you cannot afford, I urge you to call your bank and ask them about applying for a mortgage modifiation. It took me less and 30-days from when I applied, and my very next payment was much lower.