The news article by Jason Szep on Tuesday March 20th stated clearly that racism prevails in many areas in USA where they suffer most from the foreclosure increments.

In BOSTON a black couple Barbara Anderson and her husband have been under misery.

They were one of the first few people to move into the white neighborhood, and the racism was such that people burned her garage in front of her.

In 2007 Anderson came under a much different form of inequity as brokers of subprime mortgages started to attack on weak credit borrowers.

According to Anderson these subprime lenders make deals of such nature that it leads them to bankruptcy. She says their home was almost foreclosed but another bank gave them a second chance and provided them with a loan. All this stress had made Anderson a patient of high blood pressure, headaches and stomach problems.

This is happening in many areas of United States that blacks and Hispanics are given a high-cost, subprime mortgage when planning to purchase a home than whites; this becomes a cause of increase in foreclosures in deprived and mostly black neighborhoods throughout the country.

Sometimes predatory lenders give blacks and Hispanics a high price loans even though they deserve a cheaper one because of their credit situation.

According to Jim Campen, a University of Massachusetts economist the low income and poverty status of blacks and Latinos puts them in the group where they receive higher percentage of subprime loans; however some lenders add a 3% interest rate on top of this which leads to foreclosure many times.

ttp://news.yahoo.com/s/nm/20070320/lf_nm/usa_subprime_race_dc_2