Foreclosure crisis hits minorities harder

[mEDITate-OR:

remember that when Bill Clinton was pushing for more minority ownership, he was thinking more about African Americans.

However, when W Bush was pushing for more minority ownership, HE was thinking more about Latino ownership.

= Mexicans in Cal, Nev, Az, Texas..., and Cubans in Florida.

African-Americans and Latinos are losing their homes to foreclosure at a higher rate than whites
People who buy new homes tend to be, and become, more conservative.

Hence, W's game plan.

{Latinos did play The Game according to W's rules...

they voted stronger for Obama, the ingrates.}

[who they blame for these foreclosure numbers will have MAJOR impact on the next election]
However, NOTE not only when these RE loans were made = 2005 to 2008

And, WHERE these loans were made - the sand states = Cal, Nev, Fla & AZ

also what KIND of RE loans they were:

The center's research shows that African-American and Latino borrowers were about 30% more likely to get higher-rate subprime loans than white borrowers with similiar risk characteristics.

African-American and Latino communities are likely to lose $373 billion in declining property values between 2009 and 2012.

The report also found that an estimated 2.5 million foreclosures were completed between 2007 and the end of 2009. This is roughly one in every 20 mortgages outstanding at the time of the crisis.

More than eight in 10 of these foreclosures were on owner-occupied homes with mortgage originated between 2005 and 2008.

An estimated 5.7 additional foreclosures are imminent.

Like it or not, that WAS and IS racist.

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Foreclosure crisis hits minorities harder

http://money.cnn.com/2010/06/18/news/economy/african-americans_latinos_foreclosure/index.htm

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