Posted on 09/01/2022 8:31:56 AM PDT by mikelets456
Bank of America said it is now offering first-time homebuyers in a select group of cities zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities.
The option will first become available in certain neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The new mortgage, called the Community Affordable Loan Solution, aims to help eligible individuals and families obtain an affordable loan to purchase a home, the bank said.
Applicants do not have to be Black or Hispanic to qualify for the product, a bank representative said.
“Homeownership strengthens our communities and can help individuals and families to build wealth over time,” AJ Barkley, head of neighborhood and community lending for Bank of America, said in a release. “Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families, and it is part of our broader commitment to the communities that we serve.”
(Excerpt) Read more at nbcnews.com ...
She could sue, but who has time and attorney fees, she works 7/24 basically.
I can’t help but think that she took the wrong “gig” when she produced the entertainment for a certain golf promotion a couple months ago, all of a sudden her account was frozen solid and still is. hmm coincidence?
Is that even legal?
LIV?
Been there done that.
Could a white person apply then once rejected they sue and win enough money to buy a house outright.
Bank of America Goes Full-Bigot But NOT for the Reason Everyone’s Saying
great... that equates to even more litter strewn about our neighborhoods. spit...
Whites can get the loans as long as they move into an acceptable community- a black/Hispanic one. They’ll add diversity.
It's all relative. The first mortgage rate sheet I saw in May of 1985 when I started work as an agent featured a 30 year fixed at 14.75% with three points at closing. Fives and sixes are low-moderate in comparison.
Here we go again.
I read it as you don’t have to be those certain ethnic groups but must buy in those neighborhoods. Go yuppie gentrifiers, here’s a big chance.
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