NAACP Stands Against Mortgage Loan Sharks July 3rd, 2008 The civil rights group accuses lenders of preying on African-American borrowers NAACP chapters nationwide took a stand Wednesday in a national “Day of Action” against discriminatory lending practices of such giants as Citi, HSBC, WaMu, GMAC and JP Morgan. In addition to agreeing to stop preying on Black borrowers, the nation’s oldest and largest civil rights group wants the companies to make amends for the financial pain the Loans that aren't insured by the government are called conventional mortgages. The government-insured loans may be more attractive in terms of low down payment requirements but they may be more restrictive. The main advantage of applying for online mortgages is their convenience.
