ShoreBank's rescue loan program
Abstract: Thirty-five years ago, ShoreBank tackled redlining on Chicago?s South Side. A few years later, the bank led the fight to pass the ground-breaking Community Reinvestment Act of 1977. Today, as thousands of South Side home owners are dealing with the repercussions of a subprime adjustablerate mortgage, ShoreBank has taken up a new challenge: providing refinancing to home owners caught up in the mortgage lending meltdown.
Keywords: Mortgage loans;
File(s): File format is application/pdf http://www.chicagofed.org/digital_assets/publications/profitwise_news_and_views/2008/pnv_remar08_web_shorebank_rescue_loan_program.pdf
Provider: Federal Reserve Bank of Chicago
Part of Series: Profitwise
Publication Date: 2008