13 giug 1933 anni - Homeowners' Refininacing Act

Descrizione:

Goal: prevent people from losing their homes

How: Provided mortgage assistance to homeowners or would-be homeowners by providing them money or refinancing mortgages

Technically, this act did keep people in their homes. The HOLC, the administration created by the act, refinanced almost 20% of urban homes by the mid-1930s. However, this act didn't help people who weren't white, mid-to-lower-class citizens at all. Race minorities were pushed into urban housing projects, effectively physically segregating the US more than it already was. The HOLC also became known for "redlining," which is defined by Google as "refuse a loan or insurance to someone because they live in an area deemed to be a poor financial risk." In practice, these areas were areas with a high population of people of color.

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