The ChicagoMade Shorts Series is a celebration of the robust local independent film community and a showcase of entertaining work produced by talented Chicago-based artists. Submission is now open for original, entertaining short films a maximum of 8 minutes in length created by Chicago-based filmmakers.
What is a Subprime Loan? A subprime mortgage is a type of loan offered to borrowers with poor credit scores. Typically these are individuals with credit scores lower than a 600 and cannot qualify for a conventional loan. This may also include borrowers with derogatory or adverse credit histories.
The first downside of subprime loans is that these loans are more likely to go into default, meaning that the borrower will likely fail to make payments on the loan. The large number of foreclosures from subprime mortgages has had a drastic impact on the U.S. housing bust and overall economy.