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lenny · Posted: Wed Sep 12, 2007 12:19 pm Post subject: What are your thoughts??

U.S. Fed Says Minorities Denied Home Loans More Often

By Craig Torres and Alison Vekshin

Lenin comments

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miller_st · Joined: 17 Jan 2007 Posts: 918 168.95 Dollars($)

livinginnky · Posted: Wed Sep 12, 2007 5:14 pm Post subject:

It is truly sad that things like this still happen.

I only see 1 color when I do a loan and that is GREEN. Not that I only do loans for the money but lets face it. I get up and work everyday for my family. And if I do 1 person wrong how much money will I lose? How many referalls could I have gotten?

Besides the fact that it is just plain wrong.

Wake up world! Forget repeating the past. If we can't learn to be kind to one another we have no future.

Niicss · Posted: Wed Sep 12, 2007 5:30 pm Post subject:

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Even I feel that these sort of things should not happen. Today, when the world is so much advanced in everything, people should also be advanced in their thoughts.

This sort of racial differentiation should be wiped off totally.

lenny · Posted: Thu Sep 13, 2007 7:00 am Post subject:

When I came across this artical yesterday I thought about a couple I recently assisted a client where her previous lender charged her 3 points and issued her a 9.75% rate on a 30 year balloon, fully documenting income and assets with a 700 credit score, with an additional 3000 in lender fees. After reviewing what they did to this really nice older couple and the fact that they cashed them out to 100% of the equity in the home I set back and thought about how many uninformed people are out there.

I really appreciate forums and website's like this one. People please continue to give your customers correct information!!

Jessica · Posted: Thu Sep 13, 2007 11:13 am Post subject: RE:

Yes Lenny, there are such differences existing in the industry although it shouldn't be there. The minorities especially Hispanic groups are charged higher rates and fees and what do these guys do. They'll have to accept it because they're simply bound to. But can't the lawmakers and the industry professionals do anything about it? I mean why would a guy have to pay thousands of dollars more just because he's from the minority group.

heavenhack7 · Joined: 05 Apr 2007 Posts: 76 1.14 Dollars($)

yes even i agree the world is advanced and these things should not happen.

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What are your thoughts??