"But there are solutions, and Black homebuyers shouldn't lose faith that they'll never be able to become homeowners," he said.The city with the biggest spread between mortgage denial rates for Black borrowers and the overall population was St. Louis, LendingTree found, where the rate for Blacks was 20.73% versus 7.33% for the overall population, a total spread of 13.40 percentage points.
San Francisco came in first, with a spread of just 2.35 percentage points; at 11.79% for Blacks versus 9.44% for the overall population. "There's a lot of subconscious bias, and I don't think that people necessarily always realize that bias exists or how to spot it in the first place and how to prevent it," Channel said.
Source: Loan Digest (loandigest.net)
This is a horrible tweet!
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Black August uplifted as alternative Black History MonthFor Jonathan Peter Jackson, a direct relative of two prominent members of the Black Panther Party, revolutionary thought and family history have always been intertwined, particularly in August.
Source: abc7newsbayarea - 🏆 529. / 51 Read more »
Black August Uplifted As Alternative Black History MonthFirst celebrated in 1979, Black August celebrates Black freedom fighters, revolutionaries, radicals and political prisoners, both living and deceased. Do what?!? Where is my races month you bigots
Source: HuffPostWomen - 🏆 27. / 68 Read more »
Black August uplifted as alternative Black History MonthFor Jonathan Peter Jackson, a direct relative of two prominent members of the Black Panther Party, revolutionary thought and family history have always been intertwined, particularly in August.
Source: ABC7Chicago - 🏆 284. / 63 Read more »
Black August uplifted as alternative Black History MonthFor Jonathan Peter Jackson, a direct relative of two prominent members of the Black Panther Party, revolutionary thought and family history have always been intertwined, particularly in August.
Source: 6abc - 🏆 250. / 63 Read more »
Student loan relief highlights burden on Black borrowersOne in four Black borrowers would see their debt cleared entirely under the administration's plan, which cancels $10,000 in federal student loan debt for those with incomes below $125,000 a year. Waiting for the fine print on the bill….. Christian, whites and straight need NOT apply.
Source: 10News - 🏆 732. / 50 Read more »
Black homebuyers are denied mortgages at twice the rate of overall population, new analysis shows'Though discrimination against a homebuyer on the basis of their race is illegal, it still happens.' What’s the reasoning though? It’s not because they’re black. Should we give anybody a loan then let 2008 happen again? Smh It's an economic thing tied to disparity in incomes...not rejections based on racism. This will take generations to correct and changes in communities.
Source: MarketWatch - 🏆 3. / 97 Read more »