Study: Wealthier minorities get high-cost loans – Massachusetts – (this is unacceptable and wrong!)
Tagged: Massachusetts, ProfessorPosted on: January 25th, 2007“A new study of high-cost, or sub prime, mortgages in Massachusetts unearthed a surprising fact: The loans are most prevalent among minorities with substantial incomes.
Around 70 percent of African-American and Latino borrowers in Greater Boston with incomes between $92,000 and $152,000 took out mortgages with high interest rates in 2005, according to the study released yesterday by Jim Campen, an economics professor at University of Massachusetts Boston and a long time analyst of mortgage lending to minorities.”
Curation from Tomás
Filed Under: Real Estate, Research, Top Stories, Your Money
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