The Home Owners' Loan Corporation (HOLC) was a government-sponsored firm created every bit business office of President Franklin D. Roosevelt's New Deal. Its operate was to refinance dwelling mortgages, which were inwards default, inwards club to assistance foreclose foreclosures.
The HOLC is oft cited every bit starting the do of mortgage redlining. Redlining is the procedure of denying services to residents of for certain areas based on the racial composition of those areas. The term comes from the maps, created past times the HOLC, which marked inwards ruby the areas where the banks would non invest. The number of these maps was that residents inwards the to a greater extent than affluent too largely white neighborhoods were far to a greater extent than probable to have financing nether the New Deal. Residents inwards the poorer too dark communities were deemed to a greater extent than of a fiscal conduct chances too and then were less probable to have fiscal support.
You tin explore examples of redlining maps from across the U.S. of A. on the Mapping Inequality website. Using the Mapping Equality map you lot tin zoom inwards on locations to persuasion HOLC maps created for a number of American cities. When you lot persuasion 1 of the historical maps the map sidebar provides details on the local population too the per centum of the urban centre which was redlined on the HOLC map of the city.
