If you are struggling with debt, credit and trying to get back on solid ground financially in Philadelphia, you may feel like it is impossible for you to buy a house or vehicle. Fortunately, even individuals who have less than stellar credit and financial profiles can still finance cars and houses. However, that privilege often comes with a steep price in the form of subprime loans.
One of the worst consequences of our prolonged economic slump is that the market value of real estate has nosedived. As a result, millions of homeowners now face the difficult reality that the market value of their home is less than the balance of their mortgage. They are underwater homeowners.