Urban Sociology

1. Posting from Sept. 17, 2009, class
The class discussed predatory lending;and redlining. One of the biggest reasons that our economy has gone down hill is due to predatory lending. I took a class with a professor and I will not give her name that told us that she had gone way above her spending when she purchased her home. The bank loaned her the money and she was going to lose her house due to also losing a full time job. She and many others in the United States are suffering due to predatory lending. The banks went crazy and are now suffering due to so many foreclosures.

I believe all Americans are suffering due to the hardships of so many families having to foreclose on their homes. My husband and I own a condo in a 10 unit housing area in Cape Coral, Florida. Out of 10 units there are currently 2 units occupied and us. Do you know how devestating it is to purchase something that you thought would be an investment and it goes down hill. I was there the begining of this month and I thought it was a nightmare. The association has now stop maintaining the property and everything is going downhill.

Redlining exist in Chicago and it is very visible. You even see it in other states, like Indiana. Hobbart was a city that was very White. Once an Afro American moved in they would harrase the families.

Times are changing, and now to refinance the banks are making it more difficult. Before if you did not place a 10% down you were charged a fee. The government is making that more lenient. For all the young folks applying for loans, they will be have a difficult times being approved, unless, they have excellent credit.

The Jim Crow Policy was also discussed on Sept. 17, 2009.