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Forum ยป Bank of America announces 0% down payment mortgages for blacks and latinos
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Thread: Bank of America announces 0% down payment mortgages for blacks and latinos

post 1667124613 09-01-2022, 07:44 AM
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#31
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VA has been doing this.
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post 1667124763 09-01-2022, 07:48 AM
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#32
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Originally Posted By FrankCostanza⏩
Have you ever tried to be white in a black or Latino neighborhood? They ****ing hate you being there. Even your neighbors will refuse to be cordial.
Never tried
post 1667124843 09-01-2022, 07:50 AM
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#33
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Originally Posted By Nonsense916⏩
0 down

Imagine that mortgage
they are buying 50-100k homes bro
post 1667124873 09-01-2022, 07:51 AM
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#34
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Originally Posted By RIKTER⏩
Wait until about a decade from now when unfortunately many won't be able to keep up with the payments and its now racist to take their homes from them...
but but but homes only go up. but but but muh equity.
Your schtick sucks and it screams insecurity.
post 1667125073 09-01-2022, 07:54 AM
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Originally Posted By Nonsense916⏩
0 down

Imagine that mortgage
Most people now don't put down much more than 5 or 10%. And it does remove a lot of barriers for people so they can get into the market. Main thing holding people back isn't the payments, it's the fact they don't have 20k saved.
post 1667125923 09-01-2022, 08:13 AM
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#36
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Are these the houses Tony soprano bought in Newark to scam HUD?
post 1667126133 09-01-2022, 08:15 AM
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#37
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just fuking lol at not applying for these to get in on the ground floor of the inevitable class action lawsuit / punative damages gains.
post 1667126233 09-01-2022, 08:17 AM
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#38
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These programs exist for all low income people, retards. It just means their monthly payment is higher anyway. Mfers get mad over stupidest chit
post 1667126393 09-01-2022, 08:19 AM
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#39
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Originally Posted By RollTideBrah⏩
just fuking lol at not applying for these to get in on the ground floor of the inevitable class action lawsuit / punative damages gains.
not a bad idea, get the denial letter and then lawyer up
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post 1667126493 09-01-2022, 08:20 AM
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#40
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Originally Posted By L3fticle⏩
These programs exist for all low income people, retards. It just means their monthly payment is higher anyway. Mfers get mad over stupidest chit
The red alt is correct here. The headline is misleading and it's predominantly black and hispanic areas. If you're poor, white and don't mind living in the ghetto you can get this too. There are a bunch of homes that sit empty in these areas and they are trying to fill them. They'll have to pay for mortgage insurance so the bank doesn't have a huge risk here. Also these houses are cheap. I've seen ghetto places in my state for sale for 10k. Not a huge risk for the bank
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post 1667126603 09-01-2022, 08:22 AM
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Miscrs: just lol @ rentcels

Also miscrs: I can't believe companies would make it easier to buy a house
post 1667126683 09-01-2022, 08:22 AM
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#42
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Originally Posted By L3fticle⏩
These programs exist for all low income people, retards. It just means their monthly payment is higher anyway.Mfers get mad over stupidest chit
Like how mad you are over this thread?
post 1667127933 09-01-2022, 08:41 AM
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#43
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No big deal, they will just get foreclosed on again like 2008.

B of A knows this and will pick-up houses dirt cheap for their trouble.
post 1667128123 09-01-2022, 08:44 AM
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Originally Posted By Anachron⏩
They don't, well, not under this program anyway. That's what I thought too, until I read the article.
Well thatisinteresting. Maybe they don't feel its necessary because the homes are low value. Is there a cap on the amount the home can be worth?
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post 1667128163 09-01-2022, 08:44 AM
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Love them for this
post 1667128453 09-01-2022, 08:47 AM
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It's only in select cities, and for certain neighborhoods. We'll see if this program is successful but like others have said this might be mostly less than desirable locations.

Always gotta be a catch with this sort of thing
post 1667128463 09-01-2022, 08:47 AM
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I'm a blacktino, but I'm not moving to the ghetto to take advantage of this. They're also discriminating against people who did the right thing and sacrificed in order to buy one or multiple homes. This is like when you've been with the cable company for 10 years and they reward you by raising your price and giving new customers 50% off for 2 years.
When it comes your time to die, be not like those whose hearts are filled with the fear of death, so that when their time comes they weep and pray for a little more time to live their lives over again in a different way. Sing your death song and die like a hero going home.
post 1667128673 09-01-2022, 08:52 AM
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#48
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Originally Posted By PaulJerome⏩
I own a Florida real estate brokerage and if someone came to one of my agents and asked "take me to where the black people live" or "show me properties with predominantly asians" etc, then that would be against the code of conduct. You can not accommodate that request.

I don't see a problem with making favorable loans in poorer communities as this is nothing new - it's been going on (likely) since before you were born.
Yeah programs like this are a dime a dozen. Bank of America's been doing a down payment assistance program for over a year now. Moreover they've had several lawsuits in the past for doing the opposite as far as redlining and discrimination. Banks are always doing stuff like this to save face for past sins. Nowadays minorities get turned down for bad credit, not having money, or not making enough however it used to be common practice to decline them for being named Jerome or Shaniqua. Miscers seem to forget that before liberal wokeness and false victimization stuff like this actually happened.

I think handouts enable people to accept mediocrity but you can't get pissed off that banks are giving back after 100+ years of directly contributing to the lack of minority homeownership...you know, accountability.
Do not think that what is hard for you to master is humanly impossible; and if it is humanly possible, consider it to be within your reach.
post 1667128683 09-01-2022, 08:52 AM
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#49
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Originally Posted By BeautifulMouse⏩
Love them for this
That is a beautiful mouse, sir.
post 1667128763 09-01-2022, 08:53 AM
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Default rate going ^^^^^
post 1667128963 09-01-2022, 08:57 AM
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#51
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Me and my homies about to buy out the whole neighborhood
post 1667129323 09-01-2022, 09:02 AM
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#52
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End well this will not.
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post 1667129373 09-01-2022, 09:04 AM
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#53
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Originally Posted By squat_blaster⏩
People who can't afford to buy a home can apply for a loan and the bank will give them money even though they can't afford to pay it back.
And when plan goes kablooey! The rest of us get to bail them out.

Wash, rinse, repeat
post 1667129823 09-01-2022, 09:12 AM
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#54
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Originally Posted By RIKTER⏩
Wait until about a decade from now when unfortunately many won't be able to keep up with the payments and its now racist to take their homes from them...
Inb4 Mortgage forgiveness (for coloreds only)
post 1667129983 09-01-2022, 09:15 AM
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#55
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Bank of America accounting department bracing for impact LMAOOOO

All the misc 'real estate investors' about to go tits-up
post 1667130073 09-01-2022, 09:17 AM
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#56
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This is a pure bait n switch scheme, B of A is about as evil as they come. They are literally trying to trap blacks and latinos in debt, make them their slaves.
post 1667131163 09-01-2022, 09:35 AM
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#57
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Originally Posted By TBO1313⏩
The red alt is correct here. The headline is misleading and it's predominantly black and hispanic areas. If you're poor, white and don't mind living in the ghetto you can get this too. There are a bunch of homes that sit empty in these areas and they are trying to fill them. They'll have to pay for mortgage insurance so the bank doesn't have a huge risk here. Also these houses are cheap. I've seen ghetto places in my state for sale for 10k. Not a huge risk for the bank
No PMI required. No credit score required. All sizeable barriers of entry for anyone who wants to be a homeowner has been lowered purely because a neighborhood is a desired skin color. Racist policy simple as.
post 1667132143 09-01-2022, 09:55 AM
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#58
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LOL This will obviously be a failure. Too bad the banks will just have the government bail them out when all the foreclosures start to happen.
post 1667132343 09-01-2022, 10:01 AM
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#59
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Originally Posted By JIA⏩
No PMI required. No credit score required. All sizeable barriers of entry for anyone who wants to be a homeowner has been lowered purely because a neighborhood is a desired skin color. Racist policy simple as.
Sounds like a violation of the civil rights act.
post 1667132393 09-01-2022, 10:02 AM
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InB4 savvy white people go into these neighborhoods, buy up everything and gentrify them.
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