FORECLOSURE CRISIS: Shady Lending Practices Hit Minorities The Hardest

Bank Owned Foreclosure For Sale

A sobering new report reveals homeowners facing foreclosures in the U.S. aren’t out of the woods just yet — especially low-income minority borrowers.

The Center for Responsible Lending‘s study,?”Lost Ground, 2011“, found more than 2.7 million homeowners given loans between 2004 and 2008 have already lost their homes to foreclosure, which accounts for 6.4 percent of all borrowers at the time.