Redlining is a term synomous with racial discrimination. It is the practice of outling in red on government maps areas where black residents live to avoid lending in those areas and categorizing them as risky investments. This practice came about in 1933 as a result of President Roosevelt‘s New Deal that intended to provide suburban housing to white middle and lower income families, while at the same time pushing black families into urban housing projects, ghettos and slums. Unfortunately, these segratory and discriminatory practices have been going on in America for numerous decades now and have been a contributing factor to the great wealth gap and inequality we see today in society. Although the Fair Housing Act of 1968 and the Community Reinvestment Act of 1977 were passed in an effort to prevent redlining, the discrimination continues to this day. I’m Stewart Brown, a licensed Mortgage Loan Originator in Palm Springs, California here to simply topics in Real Estate and Mortgage Lending. Please, like, share, follow and subscribe!
