Disclosure: This is a sponsored post.
Fair Lending for Families with Children: Know Your Rights!
For moms and expectant mothers: The federal Fair Housing Act generally prohibits discrimination in any type of home lending transaction (like getting a mortgage) on the basis of a protected class, including Familial Status. Familial Status means:
- Families with children under the age of 18 in the household
- Pregnant women
- Any adult seeking legal custody of a child under 18
- Both traditional and non-traditional family structures
Discrimination can come in many forms. Any of the following may be discriminatory:
- Denying a loan because the borrower is pregnant or on maternity leave
- Advising a borrower on maternity leave to wait until she is back at work before buying a home
- Advising someone considering adoption to hold off on adopting until after they have closed on their home purchase
- Telling a parent on parental leave that the only income that counts toward qualifying for a loan is the income actually being received while on leave
Here at Westchester Residential Opportunities, our fair lending group investigates discrimination in home mortgage transactions. If you suspect you or someone you know has been the victim of discrimination, or you just want to understand your rights under the fair lending laws, please call us at 914-428-4507 extension 339, or visit us at www.wroinc.org.