By Sandra Guy
September 14, 2010
The highest percentage of Chicago-area residents with low credit scores live in the Englewood, West Englewood, West and East Garfield Park, Riverdale and Austin communities, further distancing their abilities to get favorable loans, credit, rent and options for economic opportunity, according to a study being released today by the Woodstock Institute, a Chicago advocacy group.
“I don’t think that we can go away from automated underwriting, but in certain circumstances, lenders can go beyond the data and look at the person’s credit worthiness,” Smith said.
Communities with the highest concentration of people with high credit scores were, in order, Kenilworth, Western Springs, Glencoe, Wilmette and Barrington, the study showed.