African Americans targeted by predatory lenders
Statistics don’t lie, however they can be used in many aspects to tell the story the author wants you to understand. Think of these two headlines for instance. One in three Dallas Cowboy fans are overweight. Now take the same data and read the headline, Dallas Cowboys’ fans lead the country in health and fitness at over 66%. An interesting piece in The Call, illustrates that African Americans are more likely to accept unfavorable lending terms than others. The data presented tells a unique story. Judge for yourself and consider the data when applying for a Reverse Mortgage.
Predatory lending has faced severe public scrutiny in recent months. The federal government, as well as subsequent state legislatures, have passed legislation designed to protect American consumers from predatory lending practices. Community organizations, including ACORN, have followed suit — launching campaigns and studies to examine these practices. Unfortunately, Africans Americans fall victim to higher interest rates in every sector of the finance industry — albeit auto, home mortgages and personal (payday/title) loans. Read Entire Article
Written by charles dennis on May 22nd, 2007 with
comments disabled.
Read more articles on .
- [+] Digg: Feature this article
- [+] Del.icio.us: Bookmark this article
- [+] Furl: Bookmark this article
