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Showing posts from May, 2012

Housing Discrimination Alive and Well in the 21st Century

Some people are in denial that in this day and age, discrimination simply does not exist anymore. Taking things at face value, one can see how an individual may be lulled into a false sense of security – legislation designed to protect minorities, affirmative action, et cetera, exist for the advancement of colored peoples in this nation. However, according to a recent study by the Consumer Action group , all is not fair in home and housing. Consumer Action contacted 5,000 community organizations across the country, compiling information from 549 respondents, who reported “serious issues with housing discrimination.” The survey shows that immigrants, the disabled, and families with children aren’t welcome in some places, and that “immigrants face the greatest hardships in finding legal recourse for housing discrimination.” One reason, Consumer Action claims, may be cultural barriers. Non-English-speaking minorities could be left out in the cold by unfair housing practices. The study

Counting Down to 2015: Banks Looking to the Future to Bring Back the Past

The National Mortgage Settlement was enacted not just to punish the wrong-doing of the nation’s five biggest lenders, but to create new safeguards to regulate the home buyer’s market. The deal involved Wells Fargo, Bank of America, Citibank, JP Morgan Chase, and Ally Financial to pay an unprecedented $24 billion to fund government programs like the Home Affordable Mortgage Program, or HAMP. While the effectiveness of these government programs funded by the settlement is being debated, the policies put in place by the settlement are due to expire in 2015. The Huffington Post reports that legal agreements among the banks, and the states and federal government hold for only three-and-a-half years. Good news for the banks. Bad news continues for those facing foreclosure. But there’s a way around the expiration of the Federal mandates. California Attorney General Kamala Harris, for example, is attempting to make permanent some of the National Mortgage Settlement's most important &quo