For those out there who have less than perfect credit, finding a loan of any kind can be difficult. The below article explains why it is easier than ever for people with bad credit to find mortgage loans.

The housing crisis in the U.S. today is more of a mortgage loan crisis as home loans were offered over the past 15 years to borrowers who would've been classified as high risk. The result was a massive increase in the number of people defaulting on their home loans. At the heart of this economic debacle was the federal government creating an artificial mortgage funding market through the Federal Home Loan Mortgage Corporation and the Federal National Mortgage Association, better known as Freddie Mac and Fannie Mae, respectively. These two agencies had been in place for decades establishing home loan guidelines in an effort to protect mortgage lending market by guaranteeing assets if a borrower were to default on a loan. This minimized risk for banks and lending institutions which meant they could extend loans to potentially risky borrowers.

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