In Modesto, Calif., latinos hit hardest by foreclosures

Modesto BeeNovember 29, 2011 

Latinos in Stanislaus County are nearly four times more likely to have lost their homes to foreclosure than homeowners nationwide.

And black and Asian-American homeowners in the county haven't fared much better, a study on foreclosures shows.

The report — "Lost Ground, 2011: Disparities in Mortgage Lending and Foreclosure" — found minority homeowners have suffered a disproportionate share of losses.

The research blames predatory mortgages for the disparity, rather than differences in income and credit history.

Stanislaus and San Joaquin counties have had the highest percentage of foreclosures in California and are the worst in the nation, with the exception of Detroit. Merced County was not included in the study because of its relatively small population.

Foreclosure rates for Stanislaus' white homeowners have been more than double the national average, but whites have fared significantly better than the county's minority homeowners.

Read the complete story at modbee.com

McClatchy Washington Bureau is pleased to provide this opportunity to share information, experiences and observations about what's in the news. Some of the comments may be reprinted elsewhere in the site or in the newspaper. We encourage lively, open debate on the issues of the day, and ask that you refrain from profanity, hate speech, personal comments and remarks that are off point. Thank you for taking the time to offer your thoughts.

Commenting FAQs | Terms of Service