Avery Salkey Americans more than 2 million homes since 2007 RSS Feed PAP lost. He says that all started as a mortgage broker incentive for him to refinance your mortgage to 13 percent. "They (lender) loans to you. They loan to you that you can not pay in the first place, they are determined not to work with you, "he said.
Yerevan crisis in the African American population statistics, particularly hard. Therefore, the National Association of Advancement of skin color, or the NAACP, and Wells Fargo Bank, Center for Financial Literacy in Washington to help homeowners, as well as improve relations with creditors and minorities. Benjamin Todd envy the president NAACP.
"We go to work not only to teach outside the bank, but also to educate people within the bank is important because in this country, we repeat the same sins switch and widespread claims that it should stop the whole industry," he said.
Wells Fargo initially NAACP is unfair credit practices have been charged, but dropped the suit after the banks agreed to plan programs to help African Americans get high-quality loans.
"Only the people put their homes and having to leave home, unfortunately, as the loans do not work properly. Thus, stable home ownership is really important, we hope that working together to solve, "said John Campbell, vice president for social responsibility: Wells Fargo Bank.
Consumer advocates say some officers to encourage mortgage lenders to sell loans high interest rates to blacks. The majority of these home loans RSS Feed PAP completed. Dixon georgette with, Wells Fargo Financial Literacy Center, says that African Americans who want to buy a home help.
"Our goal is to leverage our resources throughout the community development and community relations to access resources credit education, financial education, home buyer counseling services the NAACP, and all the things we believe are important to becoming a thing about is that the African American community." he said.
Another group of lawyers committee civil rights, has started to campaign to warn people about scams targeting of minority owners.
"They (criminals) are claiming they can save the home, Yerevan, they can help desperate borrowing loans from banks are subject to change. But really, what are they doing trying to buy the distressed debt of confidence after taking your money and run, said Yolanda McGill, Press Secretary of the committee.
McGill says the reform committee Loan Scam Prevention Network received more than 12,000 claims since 2010. It turns out that the law enforcement agencies complained about the so-called rescue companies to fake. At the same time, mortgage brokers, and Annette Alonso in hearing about ways to do more to prevent asset sales talk.
"Our underwriting basics to make sure that people who purchased homes with which to buy them, pay their ability to obtain mortgages, he said.
Analysts say efforts to help black homeowners and more equitable mortgage loan can RSS Feed PAP crisis are expected to continue through next year to mitigate.