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Black and Latinos are at a disproportionate risk in the ongoing foreclosure crisis because they are more likely than whites to have higher-cost mortgage loans and face higher unemployment rates, a report says.
The report from the William C. Velasquez Institute called on the federal government to take steps, including reforming bankruptcy laws and expanding eligibility for mortgage modification efforts, to help combat the crisis.
“If nothing is done then the foreclosures will continue disproportionately hitting blacks and Latinos,” said UCLA professor Raul Hinojosa the author of the study.
