Housing & Lending

Latest News

New Federal Financial Regulatory Agency Will Protect Consumer’s Rights

Thursday, July 23, 2009

LCCR and other civil rights organizations have long argued that the modern system of mortgage lending is profoundly flawed, and keeps many people from sustainable homeownership. Despite the gains made in civil rights and fair housing during the last several decades, many members of racial and ethnic minority communities still struggle to obtain fair and … Read More

Categories: Fair Housing, News

Senate Passes Bill That Prohibits Abusive Credit Card Practices

Wednesday, May 20, 2009

The Senate passed a bill (90-5) yesterday that will help curb credit card abuses that have unfairly harmed millions of borrowers. The Credit Card Accountability Responsibility and Disclosure Act will forbid credit card companies from unfairly raising interest rates and imposing unnecessary hidden charges and penalty fees on borrowers.  It will also limit credit card companies’ ability to … Read More

Categories: Fair Housing, News

Report: One in Five Homeowners Are ‘Under Water’

Wednesday, May 13, 2009

More than one in five homeowners are “under water,” or owe more money on their house than it is currently worth, according to a new study by Zillow.com, a real estate research service. Negative equity occurs when the value of a home drops below the value of the homeowner’s mortgage. In the past year, average … Read More

Categories: Fair Housing, News

Obama Announces Plan to Address the Foreclosure Crisis and Pledges to Reform Bankruptcy Laws

Thursday, February 19, 2009

Yesterday, President Obama pledged to reform bankruptcy laws so that judges are allowed to rework home mortgages on family homes to an affordable value. Currently, bankruptcy judges are permitted to modify mortgages on second homes, but not mortgages on primary residences.This reform will give bankruptcy judges the authority to modify mortgages, providing struggling families the … Read More

Categories: Fair Housing, News