Latinos hit hard by foreclosures
By Jim Wasserman, Sacramento Bee
Latino homeowners have taken the harshest blow from California’s foreclosure crisis, accounting for 48 percent of homes repossessed from late 2006 through 2009, a nonprofit consumer group reported Tuesday.
Statistics from the Center for Responsible Lending showed that Latino owners surrendered 301,086 homes to lenders – almost half the state’s 625,356 foreclosures during the period.
About 11 percent of California’s foreclosures – 69,176 – occurred in El Dorado, Placer, Sacramento and Yolo counties. Statewide, 41 percent of loans that resulted in foreclosure were made in 2006, the report said.
It’s too bad. But at the end of the day, people shouldn’t be buying homes they can’t afford. What’s so horrible about renting?!
Hello? Because you’re paying someone else’s mortgage and they are getting all of tax breaks. That’s why.
Racist article if you ask me. What’s it matter if more of one race has lost their home? From reading the Trib, more whites have lost their homes in Tahoe. Heh. I just created a story. Whites outnumber Mexicans in the Tahoe Foreclosure Market.
Another rascist, victim article by that bastion of perjury and half truths(I know thats redundant). The Sac Bee wouldn’t know the whole truth if it landed on their tiny heads and small minds. Barney Dodd, I mean Chris Dodd and Barney Frank made sure unqualified people whether whites, non-whites, or anybody else could get loans. Look at the false boom they created. Now the piper wants his due.
Check out the letters following the Sac Stink article for some great thoughts on this man made problem.
I don’t live in California anymore but I’m wondering if Latino’s are the largest race per capita. Does anyone know that? If so then it makes sense that the group with the largest population would statistically have the largest number of foreclosures.