supernemovitosti

Statistics show that in Charlotte, North Carolina access to mortgage refinancing declined in minority communities from 2008 to 2009, while actually increasing in mostly white neighborhoods, even in the midst of the housing bust. In minority neighborhoods 37% of conventional refinance loan requests were denied during this period, while in mostly white areas that figure was 15%.

A study that examined refinance lending in seven major US cities also revealed the same trend. On average, in those cities in 2009 lenders were more than twice as likely to deny refinance loans to homeowners in communities of color as they were to homeowners in majority white neighborhoods. This behavior by major lenders is exacerbating the effects of the housing bust in minority communities and widening economic disparities between racial groups in the US.