Posted on 08/17/2010 5:27:24 PM PDT by dynachrome
Loans taken out by Hispanics in California have been more likely to end in foreclosure than most other groups, according to a study released Tuesday by a nonprofit group that called for renewed efforts to keep troubled borrowers from losing their homes.
The Center For Responsible Lending said in its analysis of data from government agencies and mortgage servicers that almost half of all the state's foreclosures between October 2006 and November 2009 involved Hispanic borrowers.
Hispanics, however, comprised less than a third of the state's borrowers between 2004 and 2008, when those loans are likely to have originated.
(Excerpt) Read more at sacbee.com ...
That’s racist.
/ s tag forgotten
It’s all free! Ain’t America great?
What I found funny is that blacks do quite a bit better as far as foreclosures go. Racist bankers not lending to enough hi risk blacks?
It's the work of liberals, race is the greatest political tool they have.
Chill and let the wheels of government roll for crying out loud.
Today, yes.
Tomorrow, gone unchecked, no.
Foreclosures. Dyslexic Hispanic transgendered illegal women and children hit hardest.
Given that it is the fastest growing group its no wonder.
I think in many cases the mortgages were obtained because extended families pooled their wages to meet what little requirements were in place at the time. (To some extent, I don’t think it was a lack of Spanish-speakers counseling these folks, I suspect it was too many counseling them to get in on these no-lose deals.)
At any rate, as time goes by, people no longer want to live in multi-family arrangements, or they quarrel, or half the wage-earners are either deported or in jail and so there isn’t enough to make the payments.
That’s my conjecture, based on some anecdotes I’ve heard around in the Central Valley of California.
America! The Big Pinata!
Knowledge that cannot be applied because such an application would necessarily be equivalent to profiling. It’s purely theoretical and abstract info. And next week the Bee will be covering advanced abstract algebra.
and this is shocking news why?
California Hispanics: Biggest deatbeats in state
“unexpected”
What really happened was home loans were made with no consideration of the underlying value of the property or the ability of the applicant to repay the loan.
Those making the loans were only interested in the origination fees.
The home loans themselves were quickly packaged into AAA rated securities that were purchased by dupes all over the world.
http://www.humanevents.com/article.php?id=33821
Yes, I know the systemic problems involved but I was addressing why hispanics are a large proportion of the foreclosures. I think part of it is they relied on multiple wage-earners and that arrangement often does not last.
Yes, of course that is an intelligent assessment of what is happening.
Laughing all the way to the bank border.
CRL is a Soros/Sandler-backed socialist organization that wants to blow up America’s private banking system.
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