It's predatory lending. They are making bad loans on purpose in order to foreclose on the properties down the road. Countrywide did this on a regular basis prior to the 2008 crash, and BofA bought Countrywide -- and all their foreclosed upon homes -- after the crash. Bof A has come up with a clever PR scheme to hide the real intent behind these bad loans.
Dunno. What I do know is that the mortgage industry has historically and systematically rigged the system to exclude blacks. Same games they've played for generations, new packing. Maybe its more accurate to say Latinos are honorary blacks?
Spain historically chased out their jewish population and now offer some sort of "reparation" scheme based on ancestry. You could maybe get a Spanish passport at least, if you want one. I would but I'm not jewish .
Banks will re-market them asan ESG compliant finisncial product. Anybody looking for blackrock money will have to own them. Investors will get fleeced yet again when they fail to perform.
We've tried that before Billy Clinton's subprime mortgage lending. We now should know how that ended up. The people who took the "help" ended up foreclosed on, evicted, and destitute. I'm ok if they don't offer this kind of "help" to whitey (or anyone else).
It's predatory lending. They are making bad loans on purpose in order to foreclose on the properties down the road. Countrywide did this on a regular basis prior to the 2008 crash, and BofA bought Countrywide -- and all their foreclosed upon homes -- after the crash. Bof A has come up with a clever PR scheme to hide the real intent behind these bad loans.
Probably has an adj.rate mortgage as well.
Probably. Or a balloon payment.
Asians are considered to be honorary Whites?
Dunno. What I do know is that the mortgage industry has historically and systematically rigged the system to exclude blacks. Same games they've played for generations, new packing. Maybe its more accurate to say Latinos are honorary blacks?
[They] want to offload the grossly overpriced real estate before the bubble bursts.
That feel when your white privilege protects you from predatory home loans. How do we keep getting away with it lads? Literally a repeat of 2008.
Tbis should be considered predatory. Letting someone get a homeloan with nothing up front is likely to end up with many not caring if they foreclose.
How many people end up crying that it was too easy to get the house and need their mortgage forgiven?!?!?!?
Sue!!!
I'm going to apply. How can they prove I'm NOT black hispanic woman?
I identify as a wetback. WHERE'S MUH HOUSE?!?!
el tornillo los todo,
mi el amigo !!!
Lolol. I’m a Iberian and Jewish born in Latin America. Do I qualify?
Spain historically chased out their jewish population and now offer some sort of "reparation" scheme based on ancestry. You could maybe get a Spanish passport at least, if you want one. I would but I'm not jewish .
In order for me to gain Spanish citizenship all I’d have to do is move there and do a DNA test. I’m Happy with my American citizenship for now.
CASA!
¿Que donda?
I would be offended if I cared about BOA.
But luckily I’m not retarded so I don’t want to do business with BOA
u/#bait
BOA is the new bear stears,I bet they will be the bag holders for the other banks.
What could possibly go wrong.
How is this legal thought you can discriminate based on race for loans
"Legal" only matters when the party in power enforces the law.
As a veteran you get those benefits already so suck on that B of A
Banks will re-market them asan ESG compliant finisncial product. Anybody looking for blackrock money will have to own them. Investors will get fleeced yet again when they fail to perform.
Title should read:
Bank of America offers new product to bankrupt Black and Hispanic borrowers and profit from their misery.
Everyone should sue. You can’t do this type of shit
We've tried that before Billy Clinton's subprime mortgage lending. We now should know how that ended up. The people who took the "help" ended up foreclosed on, evicted, and destitute. I'm ok if they don't offer this kind of "help" to whitey (or anyone else).
And this is how they go under and get shut down.. 😉
Housing market crash incoming!!!!!!!!!
F BOA, they've been discriminating for a while now. They are going down with the rest of the criminal banks.