How can that be legal?
Posted: Thu Jan 02, 2003 3:25 pm
With mortgage rates on homes as low as 5.5%, and cars lower than that, I have asked lenders why the mortgage rates on mobile homes are at 9.5 to 12%. The answer they give is that it is “more likely for mobile home owners to default on the loan than other home owners.”
Are loan officers allowed to discriminate against people with awesome credit that can’t afford to make a large purchase?
This sounds to me like discrimination against the poor, many retired persons, and single parents. When we have obviously qualified for the loan, although we do have limited incomes, and when our FICA is “excellent,” what is it that makes us “less desirable?”
How can it be legal?
Are loan officers allowed to discriminate against people with awesome credit that can’t afford to make a large purchase?
This sounds to me like discrimination against the poor, many retired persons, and single parents. When we have obviously qualified for the loan, although we do have limited incomes, and when our FICA is “excellent,” what is it that makes us “less desirable?”
How can it be legal?