2007-01-18 12:27:14 · 5 answers · asked by JustWondering 2 in Business & Finance ➔ Credit
The loan was rejected because the applicant acknowleged that they received an unexecuted Spanish copy of the contract. It is the credit unions policy not to fund any loans when this occures. The applicants do speak english aswell as Spanish but were offered both copies so they never thought it could hurt to accept it.
2007-01-18 12:37:12 · update #1
Money speaks all languages!!! If you have not found this out, Language is not the reason your loan got rejected.
2007-01-18 12:33:31 · answer #1 · answered by Tom Cat 4 · 1⤊ 0⤋
They can refuse the loan if English isn't your native tongue, only if they are convinced that you do not understand the terms and conditions of the loan because of a language barrier. The last thing a lending institution would want is bad publicity for "tricking" a non-English speaker into signing for a loan.
2007-01-18 12:35:27 · answer #2 · answered by Muga Wa Kabbz 5 · 0⤊ 0⤋
No law specifically prohibits discrimination on the basis of language. That said, if language is actually the reason you were denied, you can probably argue discrimination on the basis of national origin. That is illegal. What reason did the lending institution give for refusing you? Are you sure that is not the reason?
2007-01-18 12:36:22 · answer #3 · answered by STEVEN F 7 · 0⤊ 0⤋
They can refuse this. In The US, it needs to be in english to ensure that everything is legal and in compliance. The application needs to be in english regardless of borrowers primary language. It is legal.
2007-01-18 13:12:06 · answer #4 · answered by kelly h 3 · 0⤊ 0⤋
No, check this site out: http://www.hud.gov/offices/fheo/lending/.
2007-01-18 12:30:44 · answer #5 · answered by Eric 1 · 0⤊ 0⤋