Quote:
Originally Posted by jimhelm
I didn't read the thread, because it smacks of politics.
There is something called Red Lining in lending..... where if you live in a bad neighborhood, the buyers look harder at the deal. It's technically illegal... like racial profiling... but I think it happens if it's a local bank sometimes.
Like... an applicant in Camden, might be less likely to get approved than one in Merchantville if it's a close thing.
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The "red lining" was something the banks and realtors did, secretly.
They drew lines around certain neighborhoods.
The banks would not issue mortages and the realtors would not show houses inside the red-lined areas.
HUD laws made such practices illegal.