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Thursday, July 2, 2009

When Banks Become an Obstacle to Lending



Sandra Hines tells the story of her painful foreclosure in the Applied Research Center’s Race and Recession Report. “They busted up my mother’s antique furniture, our belongings that we had accumulated for 40 years. We lost the home our parents bought,” she said. “Now we’ve lost all of it.” Soon after the family moved into a rental, their landlord’s foreclosure forced them out of yet another home. Sadly, the Hines family is only one of many that are suffering from the result of years of predatory lending. Together with the recession, the negative impact on communities of color is spiraling out of control.

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