(Black Voice News) — Congresswoman Maxine Waters was the keynote speaker at a recent forum designed to help Black and other non-White businesses, as well as those run by women, gain greater access to major banks and brokers to help sustain and establish their corporations. “Since the recession really took hold in December 2007,” the congresswoman explained, “about 2.3 million homes have been repossessed by banks. Currently, about one in 10 American households, with a mortgage, is at risk of foreclosure.”
According to Waters, the non-White communities across the United States suffered the most in this economic downturn because African-American and Latino families represent more than half of all California foreclosures. This data came from the Center for Responsible Lending which also notes that African-American and Latino foreclosure rates, respectively, are more than double those of White borrowers in California.
