The Gantt Report-By Lucius Gantt

How can an African-American seeking to purchase a home or refinance a mortgage tell when a mortgage lender is lying to them? Perhaps they are lying when they move their lips!

Don’t take my word for it. Listen to what they say.

You choose the lender. No matter what company you call, at some point or another you will here "No one can give you better rates than I can" or "No one can process your loan faster than we can" or "We are a bank and other lenders are just mortgage brokers".

All lies! What most mortgage lenders are are predatory lenders!

Many mortgage lenders are beast bankers gone wild! Can I prove it? If you believe recent research findings, yes!

An extremely disproportionate share of high-cost home loans go to people in lower-income and minority communities who are at greatest risk for defaults and foreclosures as interest rates rise, studies say.

Black home buyers and homeowners are denied standard bank-rate loans and encouraged by beast bankers and their evil twins in the mortgage lending business to turn to subprime loans with exorbitant interest rates that place African-American bank loan customers at greater risk of defaults.

Black customers are usually duped by beast bankers that use "teaser rates" that turn into rate shock when, after two years, the interest rates soar up to two percent higher.

African-American loan customers are not given the loan options that white customers are given. Blacks are not told by beast bankers that their loan payments could increase by several hundred dollars every month.

According to a study by the Association of Community Organizations for Reform Now (ACORN), Black homeowners were at least three times more likely to receive a high-cost loans than were white loan customers.

Don’t think that highly educated African-Americans with high incomes are treated better than the poor. Research indicates that upper-income Blacks were five times more likely than upper-income whites to receive a high-cost loan to buy or refinance a home.

What do beast bankers use to charge Black loan customers more? They say that Blacks have low credit scores.

I say that is beast talk! The lenders don’t consider how much equity Black refinance customers have in their homes. Mortgage lenders don’t care if Black customers have a perfect mortgage payment history. And, devilish bankers don’t even consider when Black customers make huge down payments on home financing transactions.

I recently attempted to borrow $20,000 from a Black employee of a lending company in the form of a home equity loan on a home site that had more than $100,000 in equity. The lender told me since I had been injured and had gotten behind on a bill or two, they didn’t have any loan products for me even though I had a lot of collateral.

I was angry but only for a second. I’m smart enough to know that predatory lenders only offer African-Americans predatory products! Don’t let the color of the beast banker fool you, the only Blacks that work for predatory lenders are the Blacks that will help the devil prey on Black loan customers!

If I'm lying, holler at me and tell me the name of the Black loan officer that will give a home loan or refinancing loan to an African-American at a standard rate. (Contact Lucius at www.allworldconsultants.net)