Neubarth
At the Ballpark July 30th
It DOES NOT MAKE IT MANDATORY that they loan to everyone in a reinvestment area, that is simply a LIE Frank, a BIG OLE FLAT OUT LIE.
my in laws were dirt poor, below dirt poor.....as a white person, my father in law still got a loan for his very modest house....Yes, they charged him a higher interest rate, than the going rate, because he was poor and had no collateral and was making very little in income, but he FINALLY did QUALIFY for a loan....AND HE PAID OFF THAT HOMEMortgage in 20 years, AS A POOR PERSON....because the banks gave him this opportunity, my husband and all of his many siblings and strangers they took in, had a home.
CRA does NOT make it mandatory that the banks loan to ALL PEOPLE THAT ASK....
again....that's a LIE....and why you continue to LIE about this is beyond reason.
Less than 6% of the loans in default across our nation were issued to people in CRA communities...94% OF THE SHITTY SUBPRIME LOANS in default or bankruptcy were issue to citizens in this country NOT IN COMMUNITY REINVESTMENT AREAS.
I admire your frankness. There is a lot of misinformation out there being spread by people. They latch on to half truths and outright falsehoods and propagate them everywhere they go.
The only way to deal with all of the lies out there is to call them for what they are, LIES. We have to set standards for honesty where ever WE go. Call it as you see it. Never let a lie go unchallenged.
If everybody spoke up when a liar stated spreading his vile filth to mislead people, we would have a far more honest world. We should make that our goal.