(FHA) Fair Housing Act Flashcards
What does the FHA stand for; and what dos it do?
The Fair Housing Act; and it prohibits discrimination against protected classes in the sale or lease of residential property.
What are the seven protected classes of the FHA?
- ) Sex
- ) Race
- ) Religion
- ) Color
- ) National Origin
- ) Disability
- ) Family Status
What Protected Classes do ECOA and FHA both look after?
- ) Sex
- ) Race
- ) Religion
- ) Color
- ) National Origin
What Protected Classes are only looked after by the FHA?
- ) Disability
2. ) Familial Status
If a consumer feels that they have been violated according to the FHA, how long of a time do they have to initiate civil action (sue)?
1 year.
What are the 3 laws that are under the FHA?
- ) Blockbusting
- ) Steering
- ) Redlining
According to FHA, what does the law Blockbusting protect against?
Trying to induce owners to sell their homes by suggesting that the ethnic or racial composition of the neighborhood is changing, w/ the implication that property values will decline. (Trying to get someone to sell their home because someone of a particular race or ethnicity moved into their area.)
According to FHA, what does the law Steering protect against?
Channeling prospective real estate buyers or tenants to particular neighborhoods based on their race, religion, or ethnic background. (Trying to get someone to move into a certain area because of their race.)
According to FHA, what does the law Redlining protect against?
Refusal to make loans on property located in a particular neighborhood for discriminatory reasons.
Redlining led to the creation of what law?
HMDA, Regulation C.
What law requires that its logo be on all advertising that is regulated by it?
“Equal Housing Opportunity” Logo… HMDA, Regulation C
