Bank of America to offer mortgages with no down payment. Phoenix misses rollout

Bank of America is launching a mortgage program that requires no down payment or closing costs to help boost Black and Latino homeownership in five U.S. cities, but Phoenix didn’t make the list.

Eligibility for the Bank of America loans will be based on income and location, but details about those specific guidelines have not been announced. Nationally, the U.S. homeownership rate reached 65.5% in 2020, according to the National Association of Realtors. But the homeownership rate was about 43% for Black people and 51% for Latino people.

Why not write the entire sorry, the loans were based on the color of your skin.

You know, they made this movie already. And we all remember the ending. It wasn't pretty.

You act as if this program is a good thing. Did we learn nothing from 2008?

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