I recently wrote an article on a subject that seems to be gaining popularity among financial bloggers/columnists.

I first noticed a post on Wisebread relating to this subject of subprime lending. He clearly outlines the damage that can be done from subprime mortgages even to those who never purchased one themselves. He talks about a decline in property value, loss of homeownership, and damaging economies.

I was also catching up on my Suze Orman column on Yahoo finance. She, too, wrote about these subprime mortgages. Her latest post enumerates the effect these mortgages have on your FICO score. By YOUR, I mean everyone, not just the ones who have/had subprime mortgages. While the lending industry is tightening their reins, interest rates increase for what appears to be absolutely no reason at all. Presently, if you want to quality for the best rates on loans you need to have a lofty score of 760. The top tier has moved away from the broad 720-850 range. She also goes into further detail on how you can raise your current score.

And if you are one of the unfortunate ones who fell prey to this lending technique, check out this article on how to get out of a subprime mortgage.