Journal Article

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;

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Bibliographic Information

Provider: Federal Reserve Bank of Chicago

Part of Series: Profitwise

Publication Date: 2008

Issue: Mar

Pages: 11-12