African-Americans Losing Homes At Twice The Rate Of Whites

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African-Americans are twice as likely to be foreclosed upon than whites, according to a new study from the Center for Responsible Lending and the University of North Carolina, Chapel Hill.

BET.com says that this is partly due to the fact that African-Americans were targeted disproportionately at the outset of the predatory lending movement.

Using home equity to get ahead financially helps many Americans pay for college and other big-ticket items. In other words, when Blacks lose their home they don’t just lose a house, they’re also forced to work uphill even more on their struggle to obtain and build wealth for their progeny.