Blacks and Latinos more likely to face foreclosure than whites
NEW YORK (AP) -- A report on the housing crisis says black and Latino homeowners face a disproportionate risk of foreclosure...
NEW YORK (AP) — A report on the housing crisis says black and Latino homeowners face a disproportionate risk of foreclosure.That’s because they’re more likely than whites to be unemployed and have higher-priced loans.
The report calls on the government to do more to protect homeowners.
Professor Raul Hinojosa (Hee-noh HOH’-sah), who wrote the report, says black and Latino homeowners around the country are anywhere from two to nine times as likely as whites to have high-cost loans.
The nationwide unemployment rate 10.2 percent. But for blacks, it’s 15.7 percent and for Latinos, 13.1 percent.
The report was written for the William C. Velasquez Institute, a nonpartisan think tank that studies Hispanic issues.
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