RISMEDIA, October 15, 2010—Latinos and African Americans have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the Golden State, according to a report from the Center of Responsible Lending.
Paul Leonard, regional director for the Center for Responsible Lending; Rep. Loretta Sanchez (D-CA) and Gary Acosta, NAHREP co-founder, will discuss the report and the ramifications of its findings on NAHREP Radio on October 19. The show is broadcast live at 9 am to 10 am PST. The broadcast can be found here.
In foreclosure states such as California, Latinos account for 48% of the region¹s foreclosures. The study analyzed more than 600,000 foreclosures. Nearly one in eight (or approximately 702,000 homes) is currently in foreclosure and unemployment remains at 12%. Reports such as this substantiate what practitioners who work in Hispanic neighborhoods have been saying the past 24 months. These trends are truly important to the national dialogue as we reshape the business of housing going forward, said Alex Chaparro, NAHREP chairman.
The Voice of Hispanic Real Estate is an Internet talk radio program produced by the National Association of Hispanic Real Estate Professionals, a non-profit trade association with more than 18,000 members in 48 states and 62 affiliate chapters.
For more information, visit www.nahrep.org.
