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Hope For Sub-Prime Consumers

Nov 29, 2007
As the Editor in Chief at Crediteria.com, I have seen first hand the suffering that is going on with the sub-prime credit card and housing market. Banks and loan brokers were issuing loans to those with marginal credit to make a fast buck.

What's sad is these loan sharks were out there cashing in on the hopes and dreams of those with low annual incomes and marginal credit, offering sub-prime consumers mortgages and credit cards. After all, the American dream is really owning a home and living a normal life. So, when somebody earning 8 or 9 bucks an hour is given the chance to stake a claim and have home ownership they take an emotional nose dive into a financial situation they can't sustain.

Why did this happen?

When a consumer with marginal credit was approved for a home loan, the loan was at an introductory rate which kept the payment to a level that they could barely make the monthly payments. Once the introductory interest rate expired, usually this was a 6 to 12 month term, the ongoing rate on the mortgage loan was raised by as little as 0.5%. In most cases the rates went up by as much as 3%.

The interest rate increase resulted in, of course, a higher monthly mortgage payment leaving the consumer without a means to make their monthly bills forcing consumers to sell their homes.

If the home owner is to stay in their home, in most cases they have to due to a very soft housing market, the home owner must either figure out a way to earn more money or file bankruptcy.

Taking on a second job isn't an option for most because of rising energy costs. People simply can't afford to drive to work.

So what can the average consumer do to earn more money?

One way is to create an revenue stream that doesn't require driving and that's what I want to present here is the opportunity to earn money on the internet has been made available to these consumer for free.

As a successful entrepreneur, I consider myself to be a bit of a philanthropist as well. It's calling most successful people have (that is anybody successful that also has a conscience). I have created a report that you can download absolutely free.

To get my guide on making extra money on the internet, please register for your complementary copy at http://www.constantconversation.com (if this link isn't clickable, please copy it and paste it into your browser navigation bar).

If you are one of those with bad credit, the get up and get busy. You can start earning more money without having to leave your home. If you have an internet connection and the will to get back on top of the world then you should take advantage of my report right now. If you have creative energy, this is not going to feel like work to you. In fact making money online is tons of fun. Join me in living the lifestyle of freedom right now and take advantage of my free report on how to get traffic from search engines and use that traffic to make money and more importantly, make your monthly bills.
About the Author
Colin McDougall is a successful entrepreneur and business coach. His portfolio of successful businesses include his credit card website where he provides valuable consumer and small business owner financing advice.
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