Bank Of America Introduces ZERO DOWN PAYMENT Loans For Blacks & Hispanics?

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[rogerwood]

There is no way BoA would be doing this again unless they know they are going to be bailed out with public funds. The fix is in and another wealth transfer is prescribed.

[zimmerman]

The catch 22 of a loan: You need the loan because you're in a financial bind, but because you're in a financial bind you aren't stable, and therefore shouldn't be getting a loan.

[leitercia]

Isn’t this EXACTLY how we got into the sub-prime mortgage meltdown of 2008??

[kathyk]

My mother left me her house when she passed. I can't afford the repairs on a house this size. I will be selling it, then buying a smaller more manageable house. I'll be paying cash because I don't want a mortgage. I agree with ABL. If you can't afford what comes with buying a home, dont do it.

[PepeToTheMooon]

Man that just sounds like a disaster waiting to happen.

[milkey]

Everyone should take they money out of this bank

[BlueLighteningGojo]

It’ll be hilarious to listen to all the complaining in a couple of years from the folks that took that deal.

[kellypbr]

Zero down payment on a loan means you'll be paying more interest. The purpose of the down payment is to cut down the amount you borrow, henceforth less interest paid.

[daveblackman]

No payment down, but here’s your 40% interest rate?

[nomandatoryvaxing]

This is just a pathway towards getting people into homes and then turning them into perpetual renters. No down payment and no closing cost is essentially renting especially since you don’t own until that mortgage is paid off. Miss a payment and watch what happens.

[nicholastotoro]

Interest rates going up and BoA wants to give 0% down mortgages in areas at risk.

I’m sure nothing could go wrong here or that they won’t be looking for another bailout.

[jakebrakebill]

Bank of America branches moved out of our area in roughly a 150 mile radius. Now this.

[safuan]

FREE MONEY IS THE MOST EXPENSIVE KIND OF MONEY
- Jaspreet Singh
(Yes we are in a recession and heading towards economic disaster).

[marcusbruno]

Approve loans that they know the customer can’t afford, foreclose on the house after they fall behind on payments, then resell it again while pursuing the previous buyer. Two people paying on the same house. That’s how they double up.

[MnastycanbeniceM]

A fantastic idea! What could possibly go wrong?

[MrJopanti]

I am Hispanic and I will never do business with that crooked bank

[chanelnumba_]

Sick and tired of us getting beat down for our tax money…we better not bail anyone out AGAIN!!! 😡 🤬

[dominiquecoats]

I know that the interest rates will be Out of this World expensive when it comes time for repayment. Lol. Sounds like some banks would need to be Bailed out by Wall Street again.

[ctgeorgia]

If you can't put anything down...you can't afford to pay the mortgage.
Let them loan it out and watch the mortgages default!

[track]

VA has 0 down payment loan for Home, Just serve for 3 years in the Armed Services