Blacks and Latinos more likely to face foreclosure than whites

Blacks and Latinos more likely to face foreclosure than whites

NEW YORK (AP) -- A report on the housing crisis says black and Latino homeowners face a disproportionate risk of foreclosure.That's because they're more likely than whites to be unemployed and have higher-priced loans. The report calls on the government to do more to protect homeowners. "Professor Raul Hinojosa":http://www.chavez.ucla.edu/people/raulhinjosaojeda.htm (Hee-noh HOH'-sah), who wrote the report, says black and Latino homeowners around the country are anywhere from two to nine times as likely as whites to have high-cost loans. "The nationwide unemployment rate ":http://www.bls.gov/news.release/empsit.nr0.htmis 10.2 percent. But for blacks, it's 15.7 percent and for Latinos, 13.1 percent. The report was written for the William C. Velasquez Institute, a nonpartisan think tank that studies Hispanic issues. _Copyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed._