Post #1675155
2023-07-14 22:22 UTC
Black veterans, like their white counterparts, sought VA-guaranteed low-interest mortgages and loans to establish homes and businesses. Although the GI Bill provided low-interest mortgages and loans, the VA could only cosign, not guarantee them. This allowed white-run financial institutions to freely deny mortgages and loans to Black individuals.
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#BlackMastodon #Histodons #History #StillWeRise
Replies (1)
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@Deglassco@mastodon.social 2023-07-14 22:23
The majority of Black applicants were rejected by racially biased banks, as observed by the National Urban League. Redlining, a discriminatory practice, further hindered Black veterans from purchasing homes by characterizing them as high-risk borrowers. This meant that most black Americans were confined to underinvested cities. 16/ #BlackMastodon #Histodons #History #StillWeRise