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re: Yes or No: Do you believe the FHA practiced/promoted redlining?
Posted on 9/16/14 at 9:07 am to LSUFanHouston
Posted on 9/16/14 at 9:07 am to LSUFanHouston
quote:
How did these black people - 30, 40, 50, 60 years ago, get mortgages to buy these houses, if it was impossible to get a mortgage?
In some ares many got seller-financed mortgages that were terrible deals for them. Some were able to pay them off despite the the terrible terms, many were not. Chicago was an especially bad area for this practice. Not sure if New Orleans was, but I would guess so.
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