Study: Latino ‘foreclosure generation’ devastated

A report by a Latino advocacy group says minority families are being disproportionately hurt by the housing crisis and need relief from foreclosures even if they lost their jobs, as well as the chance to buy affordable homes and stronger consumer protections.

By 2050, Latinos will make up 30% of the U.S. population, compared to 14% today, and immigrants will account for 82% of household growth between now and 2050, according to the National Council of La Raza, which conducted the study jointly with the Center for Community Capital, University of North Carolina at Chapel Hill.

“An estimated 1.3 million Latino families will lose their homes to foreclosure between 2009 and 2012,” said Janet Murguía, president and CEO of the NCLR. About 400,000 Latino families were expected to lose their homes to foreclosure as of 2009.

[Posted by Brenda Diaz]

http://mortgage.freedomblogging.com/2010/02/16/study-latino-foreclosure-generation-needs-help/26383/