Have banks used mortgage discrimination on blacks?
by Mortgage Rates on Friday, October 15th, 2010 | 7 Comments
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Well if it is true (IF it is true) then the banks deserve to be sued, I don’t believe in discrimination of any kind ……. negative or positive.
No. Loan officers are into numbers not skin colour.
It’s amazing since they were given loans, got big nice houses, and they would not do the same for whites.
Statistics show the facts. Blacks tend not to pay on time even when they have the money to do so. So, their credit rating is different. The stats don’t lie. Only those who don’t understand stats will say otherwise.
I read this article,it blew my mind.Maybe the NAACP should push for some simple education.This lady in the lawsuit bought a second home,this makes it an investment home,Duh! different rate.When Clinton said to make loans to broke unemployed people the banks hands were tied.I don’t think the bank held a gun to this woman’s head to sign the loan. The NAACP is such an out of touch organization,but they seem to keep racism alive.
Well if they do, it’s because the black people do not keep up with their payments. They don’t want to lose money.
Yes! “Red-lining”was defined as the practice of not extending mortgage financing to neighborhoods in primarily minority neighborhoods; this was quite common in urban areas, such as Detroit in past decades.