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Why did American Home Mortgage (Subsidiary of Wells Fargo) harass this NC Homeowner - Maggie Reaves?

Meet Maggie Walker Reaves, who has fought for years against harassment from American Home Mortgage. She speaks out against Wells Fargo and it&#39 ...

Donald Trump wrong that black homeownership rate is at a record high

The only positive news is that the quarterly figures for 2017 have been a little higher than they were in 2016. In 2016, the quarterly black homeownership rate fluctuated between 41.3 percent and 41.7 percent. In 2017, the rates in the first three quarters were 42.7 percent, 42.3 percent, and 42 percent, respectively. But that’s still below the annual levels from 2004 to 2014.

So why has the African-American homeownership rate fallen for the past dozen years? More than anything, it’s been the Great Recession and its aftermath.

"Blacks were hit disproportionately hard by the foreclosure crisis, in part because they were heavily targeted for subprime and other risky mortgages," said Alex Schwartz, a professor at the Milano School of International Affairs, Management, and Urban Policy at the New School. Those types of mortgages were at the center of the housing crisis that helped cause the recession.

As for the continued decline, Schwartz said, "banks and other mortgage lenders adopted much stricter underwriting standards after the crisis, making it far more difficult to qualify for mortgage credit. Since black and Hispanic households tend to have lower incomes and much less wealth than other groups, they are even less likely than before the crisis to purchase homes.

Mr.Obama: Eco. EASY FIX: deposit $1 million in each 40 million jobless/family's acct. instead of bankers.?

Mr.President Obama: You have within your reach, the USA economy EASY FIX.


The only thing you're right about...$40 Trillion (40mil X 1 mil) would do more than $500 million elsewhere...how about using a calculator (and some common sense) before coming up with such hare-brained ideas? Where do you think money comes from?