tigerred59
Gold Member
- Mar 17, 2015
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A Dozen Democrats Want To Help Banks Hide Racial Discrimination In Mortgages
These senators are finding common ground with President Trump.
The federal government has been collecting basic data on mortgage discrimination since 1975, tallying by race which families receive loans and which are denied. Banks have always made a habit of turning down mortgages in black neighborhoods ― a practice known as redlining that is still very much alive and well. But the housing bubble and subsequent foreclosure bust laid bare another ugly trend. Lenders had also been targeting minority families with subprime mortgages and other predatory loans, instead of simply denying mortgages outright.
This time you won't be able to blame minorities for the impending bail out in a few more years or months!!
These senators are finding common ground with President Trump.
The federal government has been collecting basic data on mortgage discrimination since 1975, tallying by race which families receive loans and which are denied. Banks have always made a habit of turning down mortgages in black neighborhoods ― a practice known as redlining that is still very much alive and well. But the housing bubble and subsequent foreclosure bust laid bare another ugly trend. Lenders had also been targeting minority families with subprime mortgages and other predatory loans, instead of simply denying mortgages outright.
This time you won't be able to blame minorities for the impending bail out in a few more years or months!!
