Woodstock in the News
Minority borrowers are far less likely than their white counterparts to get approved for a mortgage, according to a new Urban Institute study.
The government wants to make it easier for parents with flawed credit to take out loans to pay for their children’s college education. Currently the U.S. Department of Education rejects Parent PLUS loan applicants with debt payment delinquencies of 90 days or more within the past five years. A proposal would cut the period under scrutiny to two years and allow for almost $2,100 in bad debt, according to a department document released in May. In either case, applicants can be rejected for other problems, including a default, bankruptcy, or foreclosure during the past five years.