Blacks dominate subprime loans

Blacks dominate subprime loans ajc.com: "mortgages when buying a home, making them more vulnerable in the ongoing mortgage meltdown. Nearly half of blacks who bought a house in 2005 or 2006 ended up with a high-interest mortgage, compared with 13 percent of white home buyers, according to an Atlanta Journal-Constitution analysis of federal mortgage data. The disparity was striking, even in a comparison of home buyers with similar incomes. Among black home buyers making more than $100,000 a year, 41 percent got a subprime mortgage, compared with 7 percent of whites in the same income category. Experts on mortgage lending offer a variety of explanations. Some say differences in credit history cause the variation. Others argue that subprime mortgage lenders aggressively targeted minority communities that have historically been underserved by mainstream lenders."

My response:

You know, I'm just going to talk about me. Nobody else. Me. I know I don't handle my business the way I should. I take responsibility for that. As a people, we just got to take the time to learn how to take care of our finances. Knowledge is power but only if it is applied. When we educate ourselves then mortgage companies, finance companies, banks, and loan sharks can not take advantage of our ignorance. Shame on them for being evil. Shame on us for being ignorant.