Are Mortgage Companies allowed to give an Adjustable Rate Mortgage(ARM) to lenders of a certain age?

Question by ewushi: Are Mortgage Companies allowed to give an Adjustable Rate Mortgage(ARM) to lenders of a certain age?
I understand that some law prohibits mortgage lenders from giving ARM to people terminated certain age. I am 54 years old and I am struggling with this rate now. Someone told me I could use this fact to persuade my lenders to reduce my interest rate, or to move me to a fixed rate. Is this true?

Best answer:

Answer by jepeuxvoler
what law require that lenders breaking the fair housing act?i wouldn’t think that they could discriminate on the basis of age for ANY reason. it is illegal.

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