Why is it that Whites pay less on mortgages than Blacks or Hispanics?

Question

This is a proven fact:
http://news.yahoo.com/s/ap/20060908/ap_on_bi_go_ec_fi/fed_mortgages

Idiot for listening to the libral media huh?

are you mourning 9/11?

YOUR AN IDIOT FOR LISTENING TO THE LIBERAL MEDIA!

Im already rich and BLACK

I was just posing an question WHITE FOLKS OUCH!

dont like being persecuted eh? Reminds you of home dont it

So whatever the FED says is liberal media

if im an idiot, your asleep

please dont wake, you might pull the matrix ot of your butt! LMAO

4 zrogerz69:
your asleep and a child

save your thoughts. I tell you what , since you got it covered and you believe in at least 1 half of the government I'll tell you this

your not very smart when you pick a SIDE of the government, it looks stupid. the government is a WHOLE and must be treated as such, when you divide and take on others words like " you listen to the liberal media?" sounds like every conservative I know.

your being collective and dont know it. So before you call someone an idiot look in the mirror and ask your self this

How do YOU know what you know.?
..after that graduate high school get soem real bills see the real world

your young yet kid

oh and stay out of grown folks conversations

im racists?

I did not write the article

but your right I am

Answer 1

Possible because we as people are FUBR. Is there truly an equal rights - non discrimination... hummm maybe not.

*Type of loan & credit rating is also a factor*

Answer 2

Obviously it doesn't offer any reasons as the Federal Reserve System does not attend to these matters. Although it is illegal to red line (send a minority race) with an intent to an area due to race the lenders retrieve census data to make comparisons on property value as a rate of return. You probably see a lot less of this practise in highly populated and integrated regions. The loan amount can only be based on that person's ability to pay so it can not be a factor. If this becomes a trend than the banking system must be setting up illegal qualification methods to those wishing to be home owners.

Best bet would be to contact your local legislators to evaluate this.

Answer 3

Your credit score determines the rate at which you pay, not the color of your skin or ethnic background. Rather than always crying that Blacks are put down by the man, why don't you put in some hard work and see where you end up?

Answer 4

I totally agree that is bull$4it. That "news" is just put out to try and piss people off into ASSUMING that it is because of discrimination.

Perhaps, but only indirectly..it has more to do with your credit
Im "hispanic" and i got a 5.8175 mortage in august of 05...is that discrimination? thats better than any white person in my circle of friends who bought a house last year...where is the outcry for them, and their high interest rates?

Answer 5

Are you talking about interest paid? I didn't realize there was any difference. I know alot of banks offer lower interest rates , based according to your credit rating.... Sorry, I just don't believe that so called proven fact.

Answer 6

So you believe every liberal biased thing you read? Btw, I have some land on the moon, in case you're interested.

Answer 7

you are an idiot for listening to the liberal media

there are statistics out there that could prove anything

Answer 8

Hhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhh?

Answer 9

That's messed up. I honestly never knew.

Answer 10

.It is because of the risk the lender takes in providing the mortgage.
Most blacks and Hispanic have horrible credit ratings.
Most credit card fraud and mortgage foreclosures are because of the way they handle their financial responsibilities.
It does not involve racial profiling just racial irresponsibilty.