Thread: The Feds $2.7 trillion mortgage problem

And now subprime borrowers are defaulting on loans again. Cars, credit cards and personal loans. Companies like Upstart had algorithms that provided instant loans. Problem was when people had free money along with student debts and some rents "paused", they looked like gold on paper. Now they're back to defaulting on loans they never should have had in the first place and we haven't even started up the student loan pause yet.

Cue up the "student loan forgiveness" promises in November 2022 to help get those votes.

Yes.

More U.S. subprime borrowers are missing loan payments
Borrowers with limited or troubled credit histories are defaulting on credit cards, car loans and personal loans

Consumers with low credit scores are falling behind on payments for car loans, personal loans and credit cards, a sign that the healthiest consumer lending environment on record in the U.S. is coming to an end.

https://www.marketwatch.com/story/mo...MW_latest_news