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Here is a shocker that Obama needs to denounce immediately.
"Hispanics and African Americans in California have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the state, according to first-of-its-kind research by the Center for Responsible Lending in Oakland.
As a result, these communities represent more than half of all foreclosures, with 48 percent of foreclosures on Hispanics and 8 percent on African Americans, the report says."
The real reason for this is that Congress has been promoting no interest loans,loans to the "underserved", made home ownership into an entitlement.
"Hispanic and African-American borrowers in California have experienced foreclosure rates 2.3 and 1.9 times that of non-Hispanic white borrowers."
Now, the folks helped by the Democrats are having their lives turned upside down. The racism of government has caused these foreclosures--people who got home loans that could not repay them.
Shame on us for allowing this.
More...
"Hispanics and African Americans in California have experienced significantly higher foreclosure rates than non-Hispanic borrowers in the state, according to first-of-its-kind research by the Center for Responsible Lending in Oakland.
As a result, these communities represent more than half of all foreclosures, with 48 percent of foreclosures on Hispanics and 8 percent on African Americans, the report says."
The real reason for this is that Congress has been promoting no interest loans,loans to the "underserved", made home ownership into an entitlement.
"Hispanic and African-American borrowers in California have experienced foreclosure rates 2.3 and 1.9 times that of non-Hispanic white borrowers."
Now, the folks helped by the Democrats are having their lives turned upside down. The racism of government has caused these foreclosures--people who got home loans that could not repay them.
Shame on us for allowing this.
More...