Didn't we just go through this back in 2007 or so?

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From the National Broadcasting Corporation:

Bank of America announces zero down payment, zero closing cost mortgages for first-time homebuyers in Black and Hispanic communities nationwide
Bank of America said it is now offering first-time homebuyers in a select group of cities zero down payment, zero closing cost mortgages to help grow homeownership among Black and Hispanic/Latino communities.

The option will first become available in certain neighborhoods in Charlotte, Dallas, Detroit, Los Angeles and Miami. The new mortgage, called the Community Affordable Loan Solution, aims to help eligible individuals and families obtain an affordable loan to purchase a home, the bank said.

Applicants do not have to be Black or Hispanic to qualify for the product, a bank representative said.

“Homeownership strengthens our communities and can help individuals and families to build wealth over time,” AJ Barkley, head of neighborhood and community lending for Bank of America, said in a release. “Our Community Affordable Loan Solution will help make the dream of sustained homeownership attainable for more Black and Hispanic families, and it is part of our broader commitment to the communities that we serve.”

And of course, those cities are all democrat-controlled shitholes.  Surprised Seattle and Portland are not in that list.

Someone is getting paid off and here we go with another mortgage crash.

Used to bank with BofA - quit them back in 2007.  Pulled all of my accounts out - investments, etc...  Chase is much better managed.  Use local credit unions for day-to-day and deal direct for investments (moved out of stocks and into bonds these days)

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This page contains a single entry by DaveH published on September 1, 2022 12:05 PM.

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