Free Republic
Browse · Search
General/Chat
Topics · Post Article

Skip to comments.

Bank of America announces zero down payment, zero closing cost mortgages for first-time homebuyers in Black and Hispanic communities nationwide
NBC ^ | 9/1/2022 | NBC

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 ...


TOPICS: Chit/Chat; Miscellaneous
KEYWORDS: 1619project; blackkk; blackliesmanors; blackliesmatter; blacklivesmatter; blm; boa; charlotte; cnbc; criticalracetheory; crt; dallas; detroit; discrimination; housing; loans; losangeles; miami; mortgages; msnbc; nazis; nbc; nobrainscollectively; race; racism; racist; woke
Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-131 next last
To: mikelets456

So, BofA has decided they will no longer follow the “Fair Housing Act” or the “Equal Credit Opportunity Act” and just give extra credit options to one or two races, but not others?!?

I could swear there were a couple of laws on the books against such actions...if only someone could remember them and remind BofA!!


41 posted on 09/01/2022 8:46:19 AM PDT by ExTxMarine (Diversity is necessary; diverse points of views will not be tolerated.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

To those who least can afford em and don’t have the wherewithal to even understand the concept. Moronic.


42 posted on 09/01/2022 8:48:25 AM PDT by lgjhn23 (Pray for America....)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

What could go wrong there? Didn’t we try this already with catastrophic results? I’m guessing whites and Asian are going to have to pay more to cover the losses.


43 posted on 09/01/2022 8:48:46 AM PDT by redangus
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

This is the exact same thing globalist Bush did.


44 posted on 09/01/2022 8:48:56 AM PDT by dragnet2 (Diversion and evasion are tools of deceit)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

Not to worry. They can always depend on their reptiles in Washington to bail them out again with the peoples taxes.


45 posted on 09/01/2022 8:49:14 AM PDT by Desron13 (You may choose to ignore reality but you can't force reality to ignore you.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

sounds like lending discrimination based on race, religion or ethnicity to me......


46 posted on 09/01/2022 8:49:30 AM PDT by sappy (criminaldems)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Lockbox

it is based on where you live


47 posted on 09/01/2022 8:53:17 AM PDT by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
[ Post Reply | Private Reply | To 3 | View Replies]

To: mikelets456

Bank of America announces zero down payment, zero closing cost mortgages...

I’ve heard this song before.


48 posted on 09/01/2022 8:53:21 AM PDT by Flick Lives (FJB and the corrupt FBI)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

And this is not discrimination?


49 posted on 09/01/2022 8:53:48 AM PDT by Dave911
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456
This isn't just Bank of America, this is the Federal government doing this.

https://smartasset.com/mortgage/all-about-the-affordable-loan-solution-mortgage

From the link:
"The Affordable Loan Solution plan is the product of a collaboration between Bank of America, Freddie Mac and a credit union called the Self-Help Ventures Fund."

The Federal Home Loan Mortgage Corporation (FHLMC) also known as Freddie Mac, is a Government-Sponsored Enterprise (GSE) and a bastardization of Federal authority. Residential mortgage borrowing is by far the largest of the GSEs and hold about $5 trillion worth of mortgages.

The goal of the Democrats and other globalists when they stole the election of 2020 was to force red states to bail out blue states. This is just one more way of socialist government taking money from taxpayers and giving it to others, lining pockets along the way.

50 posted on 09/01/2022 8:54:00 AM PDT by T.B. Yoits
[ Post Reply | Private Reply | To 1 | View Replies]

To: facedown
Yep...no worries, backed up by limitless gov. monopoly money I'm sure.

...of course if you or I did it, it would be called "counterfeiting"...and we'd go to jail.

There is an endgame to explain all this (financial) madness/fascist threats to political opposition...that seems to be heading us towards a...

1.) cashless(controlled)society

2.) demolishing the Republic/creating another third world(controlled)sh*thole.

51 posted on 09/01/2022 8:54:04 AM PDT by RckyRaCoCo (Please Pray For My Brother Ken.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: facedown

But if you’re a successful business, BofA doesn’t want you... go woke go broke. It looks like they are on their way.

BofA just closed my Daughters business account for no apparent reason. Held her 200K cash. They said they would mail a check within 2 weeks. It’s been over a month now with no access to her money!


52 posted on 09/01/2022 8:54:14 AM PDT by Coffee_drinker (Drain The Swamp.)
[ Post Reply | Private Reply | To 2 | View Replies]

To: mikelets456

I wonder how much each new “homeowner” will receive in grants to renovate their new no money down, no interest, no payment for the first 60 days home. I bet they won’t even have to apply for such a grant - it’ll just be handed to them at closing.


53 posted on 09/01/2022 8:54:33 AM PDT by Ladysforest (Racism, misogyny, bigotry, xenophobia and vulgarity - with just a smattering of threats and violence)
[ Post Reply | Private Reply | To 1 | View Replies]

To: facedown

Is there one single adult on the board of this bank that has a memory longer than a fruit fly?


54 posted on 09/01/2022 8:54:58 AM PDT by Dave911
[ Post Reply | Private Reply | To 2 | View Replies]

To: mikelets456

will boost prices in those zip codes


55 posted on 09/01/2022 8:55:07 AM PDT by joshua c (to disrupt the system, we must disrupt our lives, cut the cable tv)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456
How many poor and working poor White and poor Asian people are cut out? This is PURE racism at its worst. Of course the costs of this folly will be passed on to BoA's credit worthy customers.

56 posted on 09/01/2022 8:55:57 AM PDT by Governor Dinwiddie (LORD, grant thy people grace to withstand the temptations of the world, the flesh, and the devil.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

This should be totally illegal.


57 posted on 09/01/2022 8:56:17 AM PDT by Sacajaweau ( )
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

Illegal and unconstitutional.


58 posted on 09/01/2022 8:56:39 AM PDT by I want the USA back (Damn it! We need Trump! America First! Bring America back! We're being governed by fascists.)
[ Post Reply | Private Reply | To 1 | View Replies]

To: mikelets456

no income no job either... right?


59 posted on 09/01/2022 8:57:01 AM PDT by Chode (there is no fall back position, there's no rally point, there is no LZ... we're on our own. #FJB)
[ Post Reply | Private Reply | To 1 | View Replies]

To: Coffee_drinker

That’s messed up, maybe she can sue?


60 posted on 09/01/2022 8:57:11 AM PDT by EEGator
[ Post Reply | Private Reply | To 52 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-4041-6061-80 ... 121-131 next last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
General/Chat
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson