Quote:
Originally Posted by BarbaraGordon
They weren't necessarily lured into homes they couldn't afford; they were lured into payments they couldn't afford. If you read the quote, which you clearly didn't, it indicated that if a white family and a black family applied for a mortgage on identical homes with identical incomes and identical credit ratings, the white family got a prime mortgate and the black family got a subprime. The black family is being foreclosed on and the white family, having a fixed-rate loan, is not. That's predatory lending, and it's a violation of the fair housing act.
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Where does it say "identical credit ratings"? It discusses controlling for income but says nothing about credit ratings (correct me if I'm wrong).