NAACP Files Lawsuit on Subprimes Used to Finance Blacks

And what about women? I would think that would be a big issue because all of us women know we are taken advantage of out there in the big world, especially by auto mechanics, etc.....:type:

 

Anyone who was defrauded by subprime lenders has a right to sue for damages.

 

The only people "defrauded" by the subprime lenders are those who are paying taxes to bail out the banks, including freddie and fanny.

Since the rich pay most of the taxes, I think the rich should be the ones allowed to sue and recover most of the damages.

peace to youraying:

 

See, you are correct. That is why the NAACP suit is faulty if they don't include everyone. It is a case of reverse discrimination again.

 

I do not believe that it is legal to ask a question concerning the race of the applicant on a mortgage application, so I am wondering how the NAACP determined that black applicants were three times more likely to be placed in subprime mortgages than whites with the same income and credit.

I wonder if this isn't just a fishing expedition.

Even if they gain access to the applications through a law suit if the race information isn't there it isn't there.

Is this just intimidation to force the banks to rewrite mortgages for select minority groups at a more favorable rate and terms than others can obtain?

 

I don't understand. Who was forced to take a loan?

Why didn't these people do what I did, and make sure they understood the terms and conditions? We hired a lawyer. We're not rich. They should have, too.

People don't deserve damages for making dumb decisions.

The only damages should be if there were outright fraud (that is, the lender did not do what the terms said they would).

Yet another reason for folks to follow my example, and refuse to put your racial designation on any form. If forced to, put "other."