🏘️ 🏚️ Excellent sample of when "letter of the law" is absolutely, no-question, morally WRONG. Anybody on here get a #mortgage "forgiven" back during the 2008(ish) financial crisis? You need to read this!
"We have a case where a portfolio of approximately 9,000 loans was sold for $6,000," she says. "And so each loan was sold for less than a dollar."
Today's key concept is #PredatoryInclusion: "a process wherein lenders and financial actors offer needed services to Black households but on exploitative terms that limit or eliminate their long-term benefits":
If you'd like an essay-formatted version of this thread to read or share, here's a link to it on pluralistic.net, my surveillance-free, ad-free, tracker-free blog:
Perhaps you recall predatory inclusion from the #GreatFinancialCrisis, when predatory #SubprimeMortgages with deceptive teaser rates were foisted on Black homeowners (who were eligible for better mortgages), resulting in a wave of Black home theft in the #foreclosure crisis:
They Were Promised Help With #Mortgage Payments. Then They Got a #Foreclosure Notice.
#Homeowners enrolled in Nevada’s mortgage assistance program have received foreclosure notices when the money fails to make its way from the federal government to the loan providers on time.