Wednesday, November 07, 2007

ACORN on loans for housing in Fort Wayne Metropolitan area

In the last year, I have had at least 5 folks discuss with me the potential foreclosure of their home. It did not dawn on me till yesterday, that foreclosure is a major problem in Fort Wayne for many young African-American women. Yesterday, I was able to help one family starve out their foreclosure, for now.

ACORN foreclosure exposure reports on page 7, When buying a home, borrowers of all races have a very high incidence of receiving a high-cost home purchase loan. Two out of five home purchase loans in the metropolitan area, or 40.5%, were high-cost loans.

Read the full foreclosure report.

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