Fair Housing
A Colorado seller places an ad that reads 'No Section 8.' This advertisement:
AIs legal in all Colorado jurisdictions
BMay violate source of income protections where applicable and potentially fair housing laws✓ Correct
CIs required by landlords to limit their tenant pool
DOnly applies to commercial landlords
Explanation
In Colorado jurisdictions with source of income protections (protecting tenants using housing vouchers), 'No Section 8' advertising may violate these protections. Additionally, such statements may have disparate impact on protected classes.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
Debt-to-Income Ratio (DTI)A lender's measure of a borrower's monthly debt obligations relative to their gross monthly income, used to evaluate loan eligibility.
Private Mortgage Insurance (PMI)Insurance required by lenders on conventional loans with less than 20% down payment, protecting the lender — not the borrower — against default.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
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