Bank of America Will Cause Next Housing Crash

CNBC just released an announcement that, “Bank of America launches zero down payment of mortgages to help minorities buy their first homes.” (09/01/22) 

They later edited to include not only minorities but communities that reside within certain places that have low home ownership so you do not have to be Black or Latino to obtain this loan.

In response, Moneywise released a response article stating, “2008 all over again? This could actually harm the communities it’s designed to help…heavily driven by risky loans to unqualified buyers. This mimic’s what happened in 2008.” 

What are your thoughts? My goal is always to list the facts in these videos. Drop me a comment, do you think these loans will help or hurt the minority population?