Loans.org Probe Reveals LGBT Discrimination in the Mortgage Industry

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Through a series of recent interviews, loans.org found that the current state of the mortgage loan market is not fair to the LGBT community.

This year the LGBT community’s fight for equality reached a fever pitch, as the Supreme Court heard oral arguments on the Defense of Marriage Act.

Loans.org investigated how LGBT inequality affects another staple of adult life: owning a home. Through a series of interviews with lenders, government officials and borrowers, loans.org found that the country has a long way to go before it can say everyone has equal access to homeownership.

In an interview with Renee Spears, the Portland, Ore.-based founder of Rose City Mortgage, loans.org found that mortgage discrimination has changed from blatant to subtle. Fifteen years ago, Spears’ mother was denied a mortgage because of her sexuality. Today LGBT homeowners must navigate the confusing laws on the differences between domestic partnerships and marriage.

The plight of LGBT home loan borrowers was brought into the media spotlight this January, when Bank of America refused to finance a lesbian couple’s new home. But less prominent are the issues of LGBT homelessness that organizations such as the U.S. Department of Housing and Urban Development fight against.

To learn more about LGBT discrimination in the housing industry, please read the entire article at http://loans.org/mortgage/articles/gay-discrimination-housing-industry

For additional information on mortgage loan news please visit http://loans.org/mortgage

About loans.org:

Loans.org is a leading lending authority website that covers financial news, produces informative articles, and answers frequently asked questions. In addition to providing lending-related information, loans.org also hosts a variety of free online application forms for prospective borrowers to use when applying for loans.

For more information, please contact:

Arit John
arit(at)loans(dot)org    
909-784-2468
Source: loans.org

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