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Dozens of CA events this weekend honor Latino Conservation Week; Kamala Harris joins Oprah Winfrey in emotional campaign event; Report finds poor working conditions in Texas clean energy industry; AI puts on a lab coat, heads to technical schools.

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Rising threats of political violence, a Federal Reserve rate cut, crypto industry campaign contributions and reproductive rights are shaping today's political landscape.

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A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Gov. Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

Analysis: Michigan Mortgage Foreclosures are "Colorful"

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Monday, December 24, 2007   

Lansing, MI – Michigan is leading the country with a statistic envied by no one – the highest rate of home mortgage foreclosures, along with Ohio. And the misery of losing homes is falling most heavily on families of color.

While mortgage woes have affected almost all areas and income levels, Jim Carr with the National Community Reinvestment Coalition says his research predicted two years ago that certain people were going to be more keenly affected by these problems than others.

"The home ownership gains for blacks and Latinos were not sustainable because of the cost burdens that they were experiencing as a result of taking these loans."

Carr says blacks and Latinos were directly targeted by subprime lenders, in Michigan and throughout the country. He explains that, while recently announced market standards and federal aid to distressed borrowers could help in the long term, they do nothing to assist people going into foreclosure now. He advises anyone who can't make their mortgage payments to contact their lender directly, to try to negotiate a plan.

Carr adds it's not just subprime mortgage holders who should be concerned about the industry crisis; that everyone has an interest in helping homeowners weather the mortgage market storm.

"You don't have to have been in the subprime market to be feeling the pain right now. House prices nationally are down by more than three percent and, in many states, they're down already in the double digits."




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