Bank of America Promises Black and Hispanic People No Down Payment No Credit Score Minimum Mortgages: Why I Think It Is BS

<p>Bank of America blew me away today with the stupidest thing I ever saw.</p> <p><br></p> <p><br></p> <p>Bank of America announced a plan to help Black and Hispanic people get into home loans in 5 markets, where frankly, the median home prices are insane. The markets are Charlotte, Los Angeles, Dallas, Miami and Detroit. Bank of America is promising no minimum credit score, no mortgage insurance, and validation of eligibility can be an on-time phone bill and car insurance premium.&nbsp;</p> <p><a href="https://newsroom.bankofamerica.com/content/newsroom/press-releases/2022/08/bank-of-america-introduces-community-affordable-loan-solution--t.html" target="_blank"><strong>NEWS RELEASE HERE</strong></a></p> <p>However, they mention income and location will determine eligibility, which to me sounds like people will be stuck in neighborhoods they want to get out of. I also discuss how BofA is doing this now while interest rates are 2-3% higher than they have been with the possibility of going even HIGHER in the next few months. I also talk about the cost of these locations and unless you are making more than BofA's minimum wage, you probably couldn't afford a home with a median price in these markets.</p> <p><br></p> <p>I then talk about the false promises this bank is doing to communities of color, especially what's going on here. It's a crazy story.</p> <p><br></p> <p><strong>NB Has recovered over $3.4 Million from big banks back to consumers, with nearly $700k of it being Zelle fraud!</strong></p> <p><strong>27,000+ Followers on TikTok, Twitter and Instagram</strong></p> <p><a href="http://www.cooglerbofabook.com/"><strong>Buy My Book "High-Risk Transaction"</strong></a></p> <p><strong>Find all my social media and other links at:</strong></p> <p><a href="http://www.thenotoriousbanker.com/"><strong>TheNotoriousBanker.com (Links to YouTube, my book's page, podcast links, and how to contribute by Venmo/Cashapp and much more!!!)</strong></a></p> <p><em><strong>MY PATREON Page! For as little as $1, you can help James in