Equal Credit Opportunity Act Ecoa

Definition of "Equal Credit Opportunity Act (ECOA)"

U.S. law making it illegal to discriminate when giving credit based on factors such as race, religion, color, age, national origin. A lender must respond to credit applications within 30 days. If the application is denied, reasons must be given. The purpose of this law was to assure that lenders would not treat one group of applicants more favorably then other group except for reasonable and justifiable business reasons. Strict rules have in all aspects of a credit transaction including that dealing with the purchase or real estate.

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I dont know the zip code of my areas. How do I find an agent that is right for me in my area. When Should I Get Travel Insurance? What is a fixed-rate mortgage? What are the Benefits of Liability Insurance? Is depreciation common?