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Wed Sep 11, 2019, 07:39 AM

Trump Wants To Make It Harder For African Americans To Buy Homes

Still a POS



Posted on Tue, Sep 10th, 2019 by Sean Colarossi
Trump Wants To Make It Harder For African Americans To Buy Homes


In the latest demonstration that Donald Trump’s bigotry stretches far beyond his hateful rhetoric, a new housing plan from the administration will make it difficult for those in the minority community to buy homes.

According to The Washington Post, “The Trump administration’s plan to overhaul the country’s housing finance system would make mortgages more expensive for minority borrowers and aspiring homeowners in the South, the Midwest and rural communities, according to fair housing and lending groups.”

The report notes that the proposal – which was revealed last week by the Department of Treasury and the Department of Housing and Urban Development – “could further reduce access to credit for low-income communities.”

More from The Washington Post:

“This plan would interject new entities that would cream the market by seeking to serve the most lucrative regions and borrowers,” such as New York and San Francisco, where home values have skyrocketed, said Nikitra Bailey, executive vice president of the Center for Responsible Lending. “The very communities that need greater access to mortgage credit — communities of color, specifically — would have great difficulty securing credit.”



But the Trump administration has proposed replacing the affordable housing goals with a more “efficient, transparent and accountable mechanism,” such as a new fee that would be transferred to HUD to promote affordable housing activities. Many consumer and civil rights groups argue that the plan would not directly increase homeownership among low-income families.



In addition, housing advocates say, the administration’s plan would lead to a bifurcated market that would block first-time home buyers and low-income borrowers, many of whom are people of color, from lower-cost conventional loans. Borrowers who cannot afford 20 percent down payments and have less-than-pristine credit scores would be channeled into more-expensive loans insured by the Federal Housing Administration, whose insurance premiums last for the life of the loan.


Trump wears his bigotry like a badge of honor

more...

https://www.politicususa.com/2019/09/10/trump-harder-african-americans-buy-homs.html

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Reply Trump Wants To Make It Harder For African Americans To Buy Homes (Original post)
babylonsister Sep 11 OP
spanone Sep 11 #1
democratisphere Sep 11 #2

Response to babylonsister (Original post)

Wed Sep 11, 2019, 07:41 AM

1. goddamn the man.

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Response to babylonsister (Original post)

Wed Sep 11, 2019, 07:57 AM

2. Satan wrecking everything everywhere for everyone.

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