Latinos Devastated By Wave Of Foreclosed Homes In New York

(Huffington Post) Latino families, the last major group to attain the American dream of Home Ownership, have been especially devastated by the wave of foreclosures since the beginning of the 2008 recession.

And in New York, the rate of foreclosures among Latinos is higher that that among every other population group.

A recent study by the New York Communities for Change organization found that blacks and Hispanics constituted 32 percent of homeowners in New York between December 2009 and December 2010, but a full 56 percent of those were notified pre-foreclosures, making them 175 percent more likely to be foreclosed upon than the general population of homeowners facing the same fate.

Christopher and Wendy Castro, a Dominican couple living in the Long Island hamlet of Brentwood in the Town of Islip, are making a desperate attempt to keep the home they acquired in 1989.

Wendy told HuffPost LatinoVoices that they applied for a loan modification in June 2010 but their application was rejected. Then, they received a notification that their house was in the foreclosure process.

Full story…

Latinos Devastated By Wave Of Foreclosed Homes In New York

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