Damned if you do, damned if you don't

[droski]

Wells sued for selling subprimes in minority
neighborhoods.

Baltimore Sues Wells Fargo for Subprimes | Chron.com - Houston Chronicle

So you are a racist for not lending to minorities because they have higher default rates, and you are a racist for lending to minorities because they can't afford the loans. :unsure:

 

[Lexvol]

Pardon my ignorance, but wasn't there a good deal of "legislated" pressure by the federal govt for banks to loosen the strings on the money? I ask because I truly don't know.

 

[GAVol]

I just locked in a rate to refinance my house today and it felt like I was being interviewed by Mike Wallace.

 

[myrobbins7]

I just locked in a rate to refinance my house today and it felt like I was being interviewed by Mike Wallace.

lol:lol:lol:

 

[OrangeEmpire]

I am getting ready to into that process...........

 

[myrobbins7]

D$mn those racist! Maybe I'll short Wells and give the money to the minority familys. No wait, then I might be sued. That's unreal.

 

[OrangeEmpire]

During the intial talks the lady says, your credit scores are very high.

We said really?

The lady then says, I don't know if you know this or not, but you have been pre-approved for a $65,000 equity line.

Gotta love banks!

Here is a lot of money, here have it for free!

 

[GAVol]

I am getting ready to into that process...........

It sure looks like now is the time. Rates have tumbled the last 5 days.

 

[OrangeEmpire]

It sure looks like now is the time. Rates have tumbled the last 5 days.

You bet!