black homebuyers
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Trump Plan for Home Loans Stokes Fears of Higher Mortgage Rates for Would-Be Homebuyers
Housing advocates fear a Trump administration plan to return federal mortgage backers Fannie Mae and Freddie Mac to the private sector will increase the cost of house loans and make it harder for low-income and disadvantaged communities to buy homes. Fannie Mae and Freddie Mac are the government-controlled companies that help provide money for the…
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Amid Some Economic Gains, Black Homeownership Continues to Fall: Report
Despite record low unemployment and higher wages than in the past, substantial barriers to homeownership continue to keep black Americans from amassing wealth. A new Washington Post report collects recent studies and data on black homeownership that offers a stark view of the racial gap in housing—one that only seems to be getting worse. Citing…
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Redlining 2.0: How Banks Block Black Homebuyers
In April 2016, Rachelle Faroul, a 33-year-old black woman, applied for a mortgage loan. Even though she had a good credit score, a degree from Northwestern and a job making $60,000 a year teaching computer programming at Rutgers University, her application was denied. I know what you’re thinking, but it was not because she was…