![]() Then they see the property address or ask me if I'm married, and everything changes." "They bombard me with emails and letters. "When I initially apply for a loan online, without fail, I get no problem," said Jones, 37. That's Compton, 29 percent Black, 68 percent Latino.įederal law prohibits lenders from using the answers to those questions to determine a borrower's ability to repay a loan. The distressing process of securing a home equity loan introduced Jones to an American reality.ĭespite Jones' good credit score, low debt-to-income ratio, better-than-average income and several thousand dollars of savings, lenders who immediately expressed interest stopped or went quiet when they got to two questions. Jones, a Black woman in her 30s, inherited a home her grandfather, a World War II veteran, had bought nearly seven decades earlier with the help of his GI Bill benefits.īut when Jones and her two children moved into the house in Compton, California, which was paid off almost 40 years ago, they soon discovered that sewage sometimes backed up in the living room and that the plumbing needed to be repaired. Ebony Jones thought she was one of the lucky ones.
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