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Black Borrowers In St. Louis Face Lending Discrimination, High Mortgage Rejection Rates | The St. Louis American

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Black Borrowers In St. Louis Face Lending Discrimination, High Mortgage Rejection Rates | The St. Louis American

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By Shahla Farzan Of St. Louis Public Radio, The St. Louis American

(St. Louis Public Radio) — Patricia Dees is losing patience.

Over the past two years, Dees and her partner, Damon Giboney, have gone to lender after lender, trying to get a loan to renovate a family home in north St. Louis.

Their applications have been denied — and the nearly 130-year-old home on Delmar Boulevard has sat vacant, slowly falling into disrepair.

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“Nobody will give us a mortgage to fix up the property and help us build wealth, but they’re willing to buy it from us for pennies,” said Dees, who estimates at least 10 investors have offered to buy the property.

Featured Image, Shahla Farzan / St. Louis Public Radio
Full article @ The St. Louis American

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