| Real Estate Terms -> What is the Community Reinvestment Act (CRA) |
Community Reinvestment Act (CRA)
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What is the Community Reinvestment Act (CRA)? |
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The Community Reinvestment Act (CRA) is a government act which gives incentives to banks and lenders to encourage them to help meet the credit needs of the communities in which they operate. Although enacted by Congress in 1977, it has only been during the past few years that most of the Real Estate Loan programs designed by these banks and lenders have been put into place. |
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