If you are a minority and have been hit with a foreclosure, you are not alone. Whites had significantly more foreclosures but the percentage of minority foreclosure rates was much higher. Between 2207 and 2009 blacks lost about $240,020 homes to foreclosure, Latinos, 335,950. The actual number for whites was not availabe but the foreclosure rate for whites was 4.5% versus 7.9 and 7.7% for blacks and latinos.
A couple of reasons were cited. Higher unemployment rates among minorities and less cash reserves in these two groups versus the general population.
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