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At risk of losing your home? The rise in foreclosures has led to equity-stripping scams targeting Blacks and Latinos.(FEATURE)
SEDERIA LEWIS WAS FULL OF HOPE when she bought her first home in Antioch, California, in 1994. She was in her 30s, a Black woman who planned to grow old in her new house.
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"My dream was to be able to help people, especially children, have a safe place to live," recalls Lewis, now 46. She had also hoped to "always have a place for myself, as well as my family members or others that may need a place to stay."
That dream started to go awry when Lewis, who is disabled, unexpectedly lost her disability benefits and quickly fell behind on her mortgage payments. After receiving a notice of default that would lead to foreclosure, ...
- Subprime loans concentrated in low-income areas: L.A. County's defaults double...
- Magazine article from: Los Angeles Business Journal Leffall, Jabulani March 19, 2007 700+ words
Risky subprime loans account for at least a fifth of all...numbers are conservative because not all subprime loans could be counted in the review.) The fear is that a high concentration of subprime loans in any neighborhood may lead to a...
- PERSONAL FINANCE : Subprime loans more common here.
- Newspaper article from: Chattanooga Times/Free Press (Chattanooga, TN) September 6, 2006 700+ words
...home loans took on higher-interest "subprime" loans, federal data indicate. By comparison...borrowers refinanced their mortgages with subprime loans. The Consumer Federation of America...conventional mortgages refinanced with subprime loans -- defined as loans priced at least...
- The Philadelphia Inquirer On Personal Finance column: Real bubble in housing...
- Newspaper article from: Philadelphia Inquirer (Philadelphia, PA) February 11, 2007 700+ words
...lending practices, most involving subprime loans. And on Friday, the Mortgage Bankers...point "fact sheet" arguing that subprime loans are not a problem. Subprime lending...the government says. In theory, subprime loans can be good. In exchange for higher...
- Delinquencies increase among 'subprime' loans: Credit crunch could bring...
- Newspaper article from: Baltimore Sun (Baltimore, MD) March 15, 2007 700+ words
...foreclosures are rising, particularly among "subprime" loans for borrowers with less-than-perfect...close and warned that the market for subprime loans "has changed dramatically in the past...of the economy." The number of new subprime loans in the Baltimore metropolitan area...
- Low-Income, Minority Homebuyers Are Still More Likely to Get Subprime Loans.
- Newspaper article from: Knight Ridder/Tribune Business News November 27, 2002 700+ words
...subjected to the higher costs of subprime loans continued to soar last year...the fourth-largest share of subprime loans to white homeowners who were refinancing, the study reported. Subprime loans made up 10.06 percent of refinance...
- Group Says Minorities Disproportionately Burdened by Subprime Loans.
- Newspaper article from: The Orlando Sentinel (Orlando, Florida) (via Knight-Ridder/Tribune Business News) March 11, 2004 700+ words
...borrowers have wound up with high-cost, subprime loans when they could have qualified for...borrowers, only 6.7 percent had subprime loans. In metro Orlando, the figures were...and 16.7 percent of Hispanics had subprime loans, compared with 9.3 percent of non...
- Subprime loans going under: Implosion hitting would-be homeowners, desperate...
- Newspaper article from: Contra Costa Times (Walnut Creek, CA) March 22, 2007 700+ words
...three months after lenders canceled the subprime loans of four would-be buyers. The lost...Century Mortgage Corp. stopping all subprime loans. In addition, Wells Fargo &...East Bay has a relatively low rate of subprime loans because of higher housing costs that...
- SUBPRIME LOANS TO MINORITIES UP.(Business)(Statistical Data Included)
- Newspaper article from: Daily News (Los Angeles, CA) March 10, 2004 700+ words
...Wilcox Staff Writer The frequency of subprime loans to Los Angeles area minorities who...from 1.5 times in 2001, she said. Subprime loans are typically made to less credit...Latinos. The greatest concentration of subprime loans to African-Americans was 40.7 percent...
Source: HighBeam Research, At risk of losing your home? The rise in foreclosures has led to...