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October 17th, 2009
11:02 AM ET

Minorities Denied Mortgages

A lot of people are getting stung by the housing and credit crisis. But minorities may be getting the worst of it. Housing expert Clyde Anderson explains why to CNN's Betty Nguyen

Join Betty Nguyen and TJ Holmes weekend mornings in the CNN Newsroom, 6am ET/ 3am PT.

soundoff (3 Responses)
  1. Concerned Father

    When are you people going to get it. Being turned down for a mortgage has nothing to do with race and everything to do with your credit history and your ablity to repay the debt. The GOVERMENT makes it madatory that HMDA must be filled out on every 1003 mortgage application, not the lender. I have reviewed thousands of mortgage applicaitons and I have NEVER looked at the HMDA information to base my decision on, NEVER.

    If you don't pay your bills on time, why would I want to lend you money for thirty years? The chance of you paying me back over this long period of time is very slim. Why don't you try and come up with a different angle then always trying to pull the race card.

    Lower incomes means lower capacity to repay. If you can't afford it folks, guess what, you don't get to buy it.

    Get a clue.

    October 17, 2009 at 3:52 pm |
  2. Robert Lake,MI

    Its got nothing to do with race it is all about how much money they make or dont make! Dont blame white people for not getting a loan for a house blame yourself for not applying yourself more and not making the kind of money it takes to own a house! Far too many loans have recently gone to mostly minorities with the $8,000 home credit when these people still cant afford to buy a house!

    October 18, 2009 at 7:02 am |
  3. Dawn

    I am soo tired of everything being the white folks fault, Where i live the latinos and black folks get all the benefits to purchase a home, 100% financing, they get there education paid for, get free child care, free medical care, I have a foster child i care for, you think i would get at least child care help, nope, i had to pay for it myself, because i made to much money, (according to them). Was also turned down for a student loan, they said they have to meet there quota with the minorities and could not help me at this time. Where do these people (news shows) get there info.

    October 19, 2009 at 1:18 pm |