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ShoreBank's rescue loan program

Author

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  • Brian Berg

Abstract

Thirty-five years ago, ShoreBank tackled redlining on Chicago?s South Side. A few years later, the bank led the fight to pass the ground-breaking Community Reinvestment Act of 1977. Today, as thousands of South Side home owners are dealing with the repercussions of a subprime adjustablerate mortgage, ShoreBank has taken up a new challenge: providing refinancing to home owners caught up in the mortgage lending meltdown.

Suggested Citation

  • Brian Berg, 2008. "ShoreBank's rescue loan program," Profitwise, Federal Reserve Bank of Chicago, issue Mar, pages 11-12.
    • Handle: RePEc:fip:fedhpw:y:2008:i:mar:p:11-12
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    File URL: http://www.chicagofed.org/digital_assets/publications/profitwise_news_and_views/2008/pnv_remar08_web_shorebank_rescue_loan_program.pdf
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    Keywords

    Mortgage loans;

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