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Women and the Subprime Crisis

Sacagawea dollar coinWomen and the Subprime Crunch - International Museum of Women

Women borrowers are overrepresented in the subprime lending market according to studies done by both the Consumer Federation of America and the National Community Reinvestment Coalition. Across the economic spectrum, women receive less favorable terms than similarly situated men on home purchase, refinance, and home improvement loans. The studies also show that the gap between women and men receiving subprime loans actually increases as women’s income increases.

We had a one of those toxic mortgages. Just last month we were able to get a mortgage modification. It helped a lot. If any of you have a mortgage that you cannot afford, I urge you to call your bank and ask them about applying for a mortgage modifiation. It took me less and 30-days from when I applied, and my very next payment was much lower.

This entry was posted on Tuesday, November 17th, 2009 at 12:07 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.

2 Responses to “Women and the Subprime Crisis”

  1. Fin Says:
    November 17th, 2009 at 3:31 pm

    Goodonya.

  2. Lowandslow Says:
    November 17th, 2009 at 5:01 pm

    I suspect as women make more money they step out and make more large purchases, such as a home or a new car. I wonder if banks stereotype women borrowers like car dealers do…that is assume they are novices and therefore easy marks?

    Glad you were able to stand up to ‘em and get yourself more reasonable terms. ;)

    S

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