The Upside of Subprime Loans

Let me tell you about Scott and Julie.

They're young. They're struggling. But they are homeowners.

They got one of those subprime loans. But they got one.

They put very little down, but they got a home. And they got that home with eyes wide open.

Open to the possibility interest rates could go higher, and they have. And that their payments could go much higher, and they have.

But Scott, an accountant by trade, was ready. And Julie too.

Both worriers by nature, they figured the worst case scenario, the absolute highest rate their mortgage could go and they asked themselves, "Could we handle this?"

They figured they could and they figured right — because they are.

You don't hear a lot about couples like Scott and Julie.

You don't hear about how some did ask the right questions and did weigh all the risks and did conclude that owning a home was worth it. And sharing in the American Dream was worth it even more.

Because Scott and Julie didn't have rich relatives — very few living relatives at all. They just had themselves and this one opportunity.

You know, much is made of the 13 percent of subprime borrowers who are running late on their payments — not a word said of the 87 percent who are not.

Like Scott and Julie, who got their chance and got their home and got their dream.

Never mind there are lots more Scotts and Julies out there. You'll not hear about them: good news isn't news, bad news is.

It's all over the TV. Scott and Julie see it themselves, on their own TV, in their own home.

Watch Neil Cavuto weekdays at 4 p.m. ET on "Your World with Cavuto" and send your comments to

Neil Cavuto serves as senior vice president, anchor and managing editor for both FOX News Channel (FNC) and FOX Business Network (FBN). He is anchor of FNC's Your World with Cavuto - the number one rated cable news program for the 4 p.m. timeslot - as well as the FNC Saturday show Cavuto on Business. He also hosts Cavuto on FBN weeknights at 8 p.m. In addition to anchoring daily programs and breaking news specials on FNC and FBN, Cavuto oversees business news content for both networks and FNC's weekend business shows, including Bulls & Bears, Forbes on Fox, and Cashin' In. Click here for more on Neil Cavuto.