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?
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?