stayingafloat_march2012_cowanbuitrago_0.pdf

It finds that negative equity is disproportionately concentrated in the Chicago region’s African American, Latino, and majority minority neighborhoods, and that borrowers in communities of color have much lower equity than do borrowers in predominantly white communities. This report concludes with recommendations to reduce the impact of declining property values and the number of homeowners with negative equity, including broader use of principal reduction loan modifications and short sales.

press release | fact sheet | audio briefing (mp3)