What Credit Crunch?

What Credit Crunch? To Judge by Lenders’ Teasers, It’s Still Subprime Time On AOL.com this week, the Internet-based loan company LendingTree offered Bad credit options and a $425,000 loan for only $1,376 a month. And Countrywide Financial , the nation’s largest mortgage lender, declared, Bad Credit? Call Today. Refinance or Tap into Your Home’s Equity in an online ad from its Full Spectrum Lending Division.

No-money-down mortgages and subprime loans that cater to people with spotty credit are quickly disappearing as lenders tighten their standards in response to a rise in foreclosures. But you wouldn’t know that if you looked at the ads that some banks and loan companies have placed on the Internet and in newspapers, including this one, often right next to the very stories chronicling the meltdown in the mortgage industry.