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Originally Posted by 92bDad
Wrong, the banks were intimidated by the threat of civil action from ACORN...they feared the loss of business due to negative publicity feeding negative perceptions.
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again, you are mistaken. the work of acorn was for banks to give loans, not to give loans to anybody regardless of their ability to pay those loans.
show me where acorn forced any bank to make a loan to a borrower who should not have qualified....
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In the end, people who would have otherwise NOT gotten a loan were granted loans. Today, many of these people are now in worse shape...not only can they no longer pay on this loan, they are being forced out of their homes with little to no hope of paying the bad debt, clearing up their credit or benefiting from this entrapment.
Is ACORN doing anything to educate the people within their community on how to live on a CASH plan and to stay off of credit? I'm simply asking, I'm curious to see if ACORN has adopted a plan of or like that of Dave Ramsey?
Do they want their communities to gain true wealth or to appear to have wealth...what's more important, reality or perception to ACORN?
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dave ramsey? for lowest income people? pretty funny.
you have a very limited understanding of economically depressed areas, and it appears that you do not understand what redlining is.
they didn't really have any debt because there was no no bank which would loan them anything. no new businesses, no new homes, no home ownership, no better education. that situation kept the lowest income households just that...lowest income.
that is the reality. that is what acorn was changing.