Virginia, Maryland and Washington DC Real Estate Search

Portfolio Realty is a premier real estate firm serving Virginia, Maryland and Washington DC. The DC metro area real estate market demands high levels of skill, proficiency and knowledge. Whether you are eager to buy your first home, sell your nest egg, invest or relocate to the area, it is important to protect your investment by working with a local market expert.
City Min $
Zip Max $
Type Beds

Advanced Search

Baths
Refine Your Search
All Homes
Foreclosures/REO's
Short Sales
New Construction

Subprime Loans and Minorities

Everyone has their own theories about the subprime mortgage debacle and more recently an in depth look with the CNBC special “House of Cards.” Some ofSubprime Loans for minorities the borrowers knew what they were getting into by lying about their income to afford a home.  Others however, did not know what lenders were steering them towards.  Unfortunately, most of these borrowers were minorities.  Now we do not know if they were taken advantage by lenders to make fortunes or if they truly were just clueless.

Recent studies have found that foreclosures are hitting minorities the hardest.  Of borrowers who received loans between 2005-2008, 8% of both Hispanic and African-American borrowers have lost their homes to foreclosures, compared the the 4.5% of non-Hispanic and whites.

The study revealed that minorities were offered subprime loans more frequently.  Of the total homeowners, 17% of Hispanics have lost their homes and 11% of African Americans are in a similar position.

Subprime Loan Chart

 

 

 

 

 

 

 

Mortgage Calculator

$
  %
  yrs
  %
$

 

Also read this...


Free Foreclosure List

Free Local Virginia, Maryland and Washington DC Foreclosure Email