Not allowed, but...............

[magyar123]

While discrimination based on age, sex, national origin, etc. is not allowed as far as granting credit is concerned, anyone born in 1947 or before, now 60 +, is unlikely to be approved for any longterm financial obligation such as a mortgage or even refinance, especially since Social Security and other retirement payments are exempt from any garnishments/attachments.
Don't even think that a now 70 year old individual would be approved for a 60 or 72 months car loan.

[B12]

Whoa, do not make such ludicrous statements!!!!!!!!!!!!!!!!!

42 views of this erroneous information and no one has negated it. You need to do some research before you post something like this because people might accept it as fact.

An 80 year old man, if qualified, can apply and will get approved for a 40 year mortgage.

[Bandit]

An 80 year old man, if qualified, can apply and will get approved for a 40 year mortgage.

Well, I am glad I have something to look forward to. A 40 year mortgage when I hit 80. At least I will finally be able to say I bought my own house. ROFL!

[robivi3]

Agreed, my Dad was approved for a new Mustang at age 74. My stepmother is well over 60 and was easily approved for her townhome in 2005, 5k down and that is in overpriced heaven, SoFla.


Oldsters vote, believe me that ain't gonna' wash down here. Sunrise Lakes and Tamarac are all 55+ housing , we're talikg about 100,000 people, some even go to my Church. That just ain't so! My mother-in-law can probably get a Mortgage quicker on her SS income than I can, there are programs for the aged also. My stepmother has never made more than 15k in one year in her life and she easily qualified for her wwonderful bit tiny 75k condo in Sunrise Lakes (incidentally, it is a concrete bunker and I would gladly ride out a hurricane there).


care to hear about my family in Tamarac? They are OLD, foreign, they are from Brazil, he was a Pastor and has written alot of best sellers in Portuguese and Spanish, (and no they didn't get a program they did it just like all of us) and put down some money and have a really nice SF home in Tamamrac on the West (BEST) side. If you qualify at any age, you will get the bucks.

Man, you quote something like that down here and riots would ensue that make South Central look like childs play, not to ment the AARP, American Army of Retired People.

[B12]

LOL Bandit................you are too much.

My kids tell me that they are going to put me and their father (whom I have been divorced from for 25 years!) in the same room together in the old age home to save the cost of another room charge.

[familyof7]

My grandmother with 720 credit score and lives on 1000 moth social security was denied a car loan they told us off the record it was due to her age

[B12]

Who told you that? If that person has any involvement in the underwriting of that loan, I suggest your relative contact a lawyer ASAP.

Sounds like it might have been her income to expense/debt ratio that was the cause of her denial.

If someone really told you that, they are not only violating a privacy act by giving you info about someone else's loan, but violating the LAW.

Every lender follows the law to the tee, they are not about to be involved in a major law suit over something stupid like discrimination, knowing they will most definitely lose.

[Minnymouth]

You let someone deny me credit due to my age..............HELL WILL BREAK LOOSE AND I'LL END UP A VERY RICH WOMAN IN MY OLD AGE............

[$$only4ever]

Well, I am glad I have something to look forward to. A 40 year mortgage when I hit 80. At least I will finally be able to say I bought my own house. ROFL!

Bandit,

I can hardly wait!!!!!!!!! Maybe we can get a 50 year mortgage at 80 years old.