B-paper

B-paper

Home mortgages for consumers with poor credit or other disabilities that prevent them from obtaining the best possible interest rates,percentage of financing,or other terms.The promissory notes are generally at high rates of interest commensurate with the higher risk of default assumed by the lender.The B-paper industry was largely unregulated for many years, but has now come under increasing scrutiny and even class action litigation because of widespread predatory abuses. On the other hand, the industry is predominantly honest and does fill a void in the home mortgage market,enabling millions of responsible persons to enjoy the benefits of homeownership.