Source: "Race Discrimination After Foreclosure: Are Communities of Color Treated Differently?

The current foreclosure crisis constitutes a monumental civil rights issue. Communities of color were targeted for risky mortgage loans, have experienced disproportionately high foreclosure rates, and have been stripped of vast amounts of wealth because of discriminatory lending practices. From 2005 to 2009, median wealth fell by 66 percent among Latino households and 53 percent among African-American households, compared with just 16 percent among white households, largely due to declining home values. From 2009 through 2012, African Americans are projected to lose an estimated $194 billion in housing equity, and Latinos are expected to lose $177 billion.

 

To Read More: http://www.acslaw.org/acsblog/race-discrimination-after-foreclosure-are-communities-of-color-treated-differently

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