May
13
2010
Crisis cuts US minority loans
Posted by: in Home Mortgage Online, tags: 1930s, Conventional Loans, Conventional Mortgage Loans, Downturn, Economic Boom, Excerpt, Financial Crisis, Home Equity, Minority Communities, Minority Loans, Sub Prime Mortgage, Sub Prime Mortgage Lending, Trillions, Webmasterwebmaster@technorati.com wrote an interesting post today on
Here’s a quick excerpt
CHICAGO - AMERICA’S financial crisis disproportionately cut access to conventional mortgage loans for minority communities compared to predominantly white neighbourhoods, according to a study released on Thursday. Reckless sub-prime mortgage lending during the recent economic boom sparked the worst housing crisis and downturn since the 1930s, wiping out trillions of dollars of home equity and …
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