Analyzing foreclosures among high-income black/African American and Hispanic/Latino borrowers in Prince George's County, Maryland

KB Anacker, JH Carr, A Pradhan - Housing and Society, 2012 - Taylor & Francis
KB Anacker, JH Carr, A Pradhan
Housing and Society, 2012Taylor & Francis
Abstract Although Prince Georges County, Maryland, is the wealthiest Black/African
American county in the nation, the national foreclosure crisis has had a profound effect on it.
Using a merged data set consisting of Home Mortgage Disclosure Act (HMDA), US Census,
and Lender Processing Services (LPS) data and utilizing a logistic regression model, we
analyzed the likelihood of foreclosure in Prince George's County in the Washington, DC
metropolitan area. We found that the borrowers in Black/African American neighborhoods …
Abstract
Although Prince Georges County, Maryland, is the wealthiest Black/African American county in the nation, the national foreclosure crisis has had a profound effect on it. Using a merged data set consisting of Home Mortgage Disclosure Act (HMDA), U.S. Census, and Lender Processing Services (LPS) data and utilizing a logistic regression model, we analyzed the likelihood of foreclosure in Prince George’s County in the Washington, DC metropolitan area. We found that the borrowers in Black/African American neighborhoods with high-income were 42% more likely and Hispanic/Latino neighborhoods with high-income were 159% more likely than the borrowers in non-Hispanic White neighborhoods to go into foreclosure, controlling for key demographic, socioeconomic, and financial variables.
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