Upcoming Foreclosures

are black citizens most frequent victims of real estate foreclosures in USA?

Public Comments

1. How can you be a victim, if you do it to yourself? But to answer your question, no, it's about the same for every ethnicity, but it may be that your area or the area that you're researching may be giving you only the stats that they know (which is their specific area, state, county, city, etc).
2. No at all, if you follow the bank guide line that will never going to happen. but if you don't, bank does not care if the money comes from a black person or a yellow person they simply wants their money that they have invested for the property.
3. Actually no. Most of the foreclosures are people who bought above their means. My observation, in CA, which is very diverse, that most of the people who thought they deserved more then they were willing to work for are white, not any minority group.
4. People who made bad financial decisions (i.e. buying more house than they can afford, interets only loans, etc) are the ones who make up the majority of those headed for foreclosure. I don't think shooting yourself in the foot by making bad financial decisions qualifies you as a "victim". Neither does putting ones wants (I want a nice house with no money down and I'll do this by taking out two ARM's while prices are at their highest in years and let's make that interest only so I can live in a place I can't really afford AND build zero equity while I am at it ) over reality (saving for a down payment and buying when prices are down and really educating yourself on how both mortgages and real estate work) make one a "victim".