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What are the key provisions of the Fair Housing Act that specifically address mortgage lending practices?
The key provisions of the Fair Housing Act that address mortgage lending practices prohibit discrimination based on race, color, religion, national origin, sex, familial status, or disability. Lenders are required to treat all applicants fairly and equally, without regard to these protected characteristics, when determining eligibility for a mortgage loan.
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What can be found on the Canada mortgage and housing site?
The Canada Mortgage and Housing site offers housing and mortgage insurance information. The info is provided by the Canada Mortgage and Housing Corporation.
Which practices were not banned as a result of the Civil Rights Act of 1968?
Discriminatory practices in housing. Discriminatory practices in mortgage lending. Discriminatory restrictions on multiracial marriages. Discriminatory real estate practices such as steering African Americans to certain neighborhoods.
What services do Canada Mortgage and Housing Corporation provide?
Canada Mortgage and Housing Corporation Work with Community Organizations, Non Profit Agencies and All Levels of Government to help create solutions to Housing Challenges. The offer Mortgage Loan Insurance, Housing Market Information and Affordable Housing.
What has the author Lawrence Berk Smith written?
Lawrence Berk Smith has written: 'Housing and mortgage markets in Canada' -- subject(s): Housing, Mathematical models, Mortgage loans 'Anatomy of a crisis' -- subject(s): Housing policy 'The postwar Canadian housing and residential mortgage markets and the role of government' -- subject(s): Housing, Mathematical models, Mortgage loans
When did the housing crisis start?
The US housing crisis is commonly traced back to the mid-2000s, with the collapse of the subprime mortgage market in 2007 as a major triggering point. Risky lending practices, housing price bubbles, and financial market speculation all contributed to the crisis.
What is meant by the home mortgage disclosure act?
The "Home Mortgage Disclosure Act" was established in 1975. The meaning of this act is that it requires financial institutions to maintain and disclose data on a variety of aspects for dwellings. This helps to generate statistics on government investments, housing needs and lending practices.
Which event was characterized by a decline in new home construction and housing prices and an increase in mortgage delinquencies and foreclosures?
subprime mortgage crisis
What event was characterized by a decline in new home construction and housing prices and an increase in mortgage delinquencies and foreclosures?
the answer is subprime mortgage crisis. (A+)
What is a government backed mortgage called?
A government-backed mortgage is typically referred to as an "insured mortgage" or a "guaranteed mortgage." These types of mortgages are supported or guaranteed by a government agency or entity, such as the Federal Housing Administration (FHA) in the United States, Canada Mortgage and Housing Corporation (CMHC) in Canada, or similar organizations in other countries. Government-backed mortgages often offer more favorable terms and lower down payment requirements to encourage homeownership and stimulate the housing market.
How have bank mortgage rates changed since the housing bubble has burst?
Since the housing bubble burst, bank mortgage rates and decreased. This makes it more affordable for people to get a loan and be able to purchase a house.
Is it common for rent to be higher than mortgage payments in certain housing markets?
Yes, it is common for rent to be higher than mortgage payments in certain housing markets due to factors such as demand, location, and market conditions.
Maximum Mortgage?
Maximum Mortgage What is your maximum mortgage? That largely depends on your income and current monthly debt payments. This calculator collects these important variables and determines your maximum monthly housing payment and the resulting mortgage amount.
