When it comes to financing the purchase of a home
a. White applicants are more likely to have their credit reports dismissed than people of color.
b. Applicants are more likely to receive a loan for low income housing in white neighborhoods than in black neighborhoods
c. African Americans were steered toward sub-prime mortgages more often than white applicants
d. Whites and black loan applicants are held to the same standards of eligibility
C Correct Answer: African Americans were steered toward sub-prime mortgages more often than white applicants
Feedback for Correct Answer: African American families who qualified for conventional mortgages often were steered to the more profitable sub-prime home loans. As a consequence, three times more families of color were given sub-prime mortgages than white families, and twice as many African American and Latino homeowners ended up losing their homes because they defaulted on the sub-prime loans.
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