Is age discrimination allowed in mortgage lending? The answer is absolutely not! I was recently approached and asked if a 72 year woman could buy a condominium and get a 30 year mortgage. The individual was retired and receiving pension and social security income. The question was asked if she could qualify using that income and get a mortgage since she would be over 100 when the loan would be paid in full. Regulation B of the Equal Credit Opportunity Act(ECOA) prohibits discrimination for the following: Race or Color National Origin Religion Sex Marital Status Age* Applicant's receipt of income … (3 comments)
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