February 29, 2012
FHA loan applicants should know their rights under the Fair Housing Act, which forbids discrimination in the terms and conditions of a loan to an individual based on disability.
That includes setting a different standard or requiring different application processes for disabled FHA and conventional loan applicants. Under federal law, it is also illegal for a lender to ask about the nature or severity of a disability except in limited circumstances explained in the Fair Housing Act.
The U.S. Department of Housing and Urban Development recently announced it is charging Bank of America with discriminating against homebuyers with disabilities.
Joe Wallace has been specializing in military and personal finance topics since 1995. His work has appeared on Air Force Television News, The Pentagon Channel, ABC and a variety of print and online publications. He is a 13-year Air Force veteran and a member of the Air Force Public Affairs Alumni Association. He was Managing editor for www.valoans.com for (8) years and is currently the Associate Editor for FHANewsblog.com.
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