An erroneous interpretation of the word “subprime” would lead one to believe that a subprime mortgage is a loan issued at a rate beneath the prime interest rate. In fact, the term subprime refers to the creditworthiness of the borrower. A subprime borrower is defined as person with a tarnished or limited credit history; the credit issued to a risky borrower at a rate greater than the prime rate is termed a subprime loan.
If these loans are so risky why have they, up until recently, accounted for approximately 25% of mortgage originations in our country? We hope that the list of articles and government publications below help shed some light on subprime lending and its relation to our nation’s foreclosure crisis.
Prime Time, an after-school program developed by Youth Opportunities Unlimited (Y.O.U.) specifically for the Cleveland Public Library, engages youth between the ages 14 and 17. These promising youth develop career related skills, which improve their academics, decision-making, leadership, and employability skills.
Reference USA provides directory information for 11 million U.S. businesses and 120 million U.S. households. Search for businesses by SIC code, sales volume number of employees and more. Search for residence directory information by name, location or phone number.
Library Elf is a third-party site that allows you to get overdue and hold alerts from any participating library, including Cleveland Public Library. You can get this service in addition to the NetNotice reminder service if you wish, as it provides some additional features...
Foreign Literature Department offers interested readers an outstanding collection of international periodicals in over 30 languages. Magazines written in Russian, Serbian, Chinese, Japanese, Vietnamese, Spanish and Hindi are available for three week loan periods.
Welcome to CPL’s new web site! We’ll be bringing you news about happenings and unique collections at the library through this, our blog. You can find subject department information in About Us and information on branches and a FAQ are also found here. Check out the rest of the links at the top of the page to find other new features.
Homestead Exemption is a statewide program that allows qualifying Ohio homeowners to shield $25,000 of the market value of their homes from property taxes. This is an additional reduction in real estate and manufactured home taxes beyond any other property tax deductions and rollbacks an individual may already be getting. Effective July 1, 2007, there is no income requirement for eligibility.