Subprime Lending is back? Sort of

[Rebecca Belnap]

Remember 2006? 

No income, no assets, FICO score of 580, no down payment? Sure, we would LOVE to give you a loan.  

They are now calling it Non-prime which is probably more accurate.  The requirements to qualify are very similar to most conventional loans and you absolutely are going to pay a down payment.  The main difference is this might be a way to go for borrowers who have had a recent short sale, bankruptcy, or foreclosure.  

What are your thoughts?  Do you think people should be able to buy a home or investment property one day out of bankruptcy?