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Article: Mortgage study notes racial gap.
- Article from:
- San Antonio Express-News (San Antonio, TX)
- Article date:
- September 6, 2007
CopyrightCOPYRIGHT 2007 San Antonio Express-News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rachel Stone
Sep. 6--Poor people, blacks and Hispanics get subprime mortgages at higher rates than wealthier people and whites, according to a social justice group's examination of lending data in 172 cities.
The annual study released Wednesday from the Association of Community Organizations for Reform Now, known as ACORN, found that in the San Antonio area, more than 28 percent of all home loans had subprime rates.
Black and Hispanic home buyers across all income levels in the San Antonio area were twice as likely as whites to get high-cost home loans, according to the analysis.
The group looked at lending data from the San ...