Latinos, African-Americans Experience More than Half of All Foreclosures in California

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Latinos and African-Americans in California have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the state, according to the Center for Responsible Lending (CRL).

 

The first-of-its-kind report shows Latino and African-American borrowers in the Golden State have foreclosure rates that are 2.3 and 1.9 times that of non-Hispanics, respectively.

Contrary to some claims, most of the foreclosures have occurred in modest homes, not sprawling "McMansions." Nearly 60 percent of the foreclosures occurred on properties with two or three bedrooms. Larger homes with at least four bedrooms accounted for less than one-third of all foreclosures. 

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