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California Debt Blog: Avoid Predatory Lending and Mortgage Discrimination

August 6, 2008 by Jonathan Stein

The Seattle Office for Civil Rights just put out a newsletter with a great article to help you avoid becoming a victim of predatory lending or mortgage discrimination.

One of the highlights:

A recent study by the Department of Housing and Urban Development and the Urban Institute found that African American borrowers on average paid $415 more in closing costs in FHA-guaranteed mortgages than whites. The study also revealed Latino borrowers paid $365 more in closing costs.

Make sure you contact someone if you feel you have been discriminated against on your mortgage.

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