Bank of America Won’t Require Down Payments from Certain Black and Hispanic Borrowers

[GURPS]

The new program from Bank of America is “aimed at helping first-time homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down payments, closing costs or minimum credit scores,” according to Bloomberg. The loans will also not require mortgage insurance.

The trial program is being rolled out “in certain Black/African American and/or Hispanic-Latino neighborhoods” in five U.S. cities: Detroit; Miami; Los Angeles; Dallas; and Charlotte, North Carolina.

Dubbed the “Community Affordable Loan Solution,” the program will determine eligibility not by credit score, but numerous other factors, such as a borrower’s history of paying rent or utility bills on time.

Bank of America Won't Require Down Payments from Certain Black, Hispanic Borrowers

The Bank of America announced it will not require down payments on loans in certain Black and Hispanic neighborhoods.

www.breitbart.com

 

[herb749]

After the last housing loan disaster B of A wants to try it again .?

Is this a wink, wink, nod, nod with the feds to bail them out.

 

[PrchJrkr]

Good luck to the buyers. I hope they don't suffer like many did in the last housing boondoggle.

 

[stgislander]

Hey BOA! 2008 called....

 

[my-thyme]

Guess they didn't learn the first time.

 

[DaSDGuy]

Great. More taxpayer bailout money.

 

[GoodnessME]

What could possibly go wrong!? Guess they didn't learn from the last time.Oh!!! Maybe they did...new bail out loans available at BOA!!! Get 'em while they are hot!!

 

[Sneakers]

I think I now identify as black. Well, at least brown after a tanning session.

 

[gemma_rae]

I see y'all got this covered. Carry on.

 

[Sneakers]

I see y'all got this covered. Carry on.

Still working on my Ebonics accent, but yeah...

 

[gemma_rae]

Still working on my Ebonics accent, but yeah...

Just say Yo, but change your voice inflection frequently, i.e. YO!, Yo yo yo, Yeoooo! Yo? and end with "see whut I'm say'n!"

 

[limblips]

It appears the law is being Bidenized once again:

• The Fair Housing Act. This law was passed in 1968 and forbids lenders from discriminating against a renter or homebuyer based on race, color, religion, sex, national origin, disability or familial status.

• The Equal Credit Opportunity Act. This law, enacted in 1974, prohibits lenders from discriminating against applicants based on factors such as race, color, religion, origin, sex, marital status, age and receipt of public assistance.

 

[Merlin99]

The new program from Bank of America is “aimed at helping first-time homebuyers in Black and Hispanic neighborhoods by offering mortgages that don’t require down payments, closing costs or minimum credit scores,” according to Bloomberg. The loans will also not require mortgage insurance.

The trial program is being rolled out “in certain Black/African American and/or Hispanic-Latino neighborhoods” in five U.S. cities: Detroit; Miami; Los Angeles; Dallas; and Charlotte, North Carolina.

Dubbed the “Community Affordable Loan Solution,” the program will determine eligibility not by credit score, but numerous other factors, such as a borrower’s history of paying rent or utility bills on time.

Bank of America Won't Require Down Payments from Certain Black, Hispanic Borrowers

The Bank of America announced it will not require down payments on loans in certain Black and Hispanic neighborhoods.

www.breitbart.com

You can buy most of a block in Detroit for 25K

 

[glhs837]

 

[glhs837]

You can buy most of a block in Detroit for 25K

And then you can spend 100K excavating and remediating the rubble and toxic sludge filled basements and it will be worth 30K. And then you can spend a mill building eight 1200 sq foot houses. And sell them for 75K apiece because they are located in the ghetto and you need to like the Omega Man to survive. .

 

[Kyle]

 

[Kyle]

 

[Gilligan]

Just say Yo, but change your voice inflection frequently, i.e. YO!, Yo yo yo, Yeoooo! Yo? and end with "see whut I'm say'n!"

yo..dawg..hail nawh...you trippin'...

 

[Kyle]

Just say Yo, but change your voice inflection frequently, i.e. YO!, Yo yo yo, Yeoooo! Yo? and end with "see whut I'm say'n!"

You gonna sing some Miami Sound Machine?

 

[Kyle]

Now the only repercussion is maybe an indictment for filing a false loan application, BUT the States Attorney in Baltimore City did it, and if arrested, surely I'll be out on Personal Recognizance...

Reregister as a Democrat and send $5 to Hillary, Barry and Joe, just to cover your bases.