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African American Home Decor

Click Here For The Latest "Must Know" Homeowner Survival Tips.   Did You Know! ... 70 percent of Black and Hispanic borrowers with incomes between $92,000 and $152,000 received high-interest rate home loans, compared to 17 percent for whites. (According to U. Mass. Study.)   Single Black women purchase almost twice as many homes as single Black men.   African American homeownership lags at 48%, compared to 53% for Latinos and 74% for Whites.   The biggest complaints reported by African American homeowners is contractor fraud and predatory lending.   It's estimated African American homeowners will lose over 80 billion dollars in home equity because of institutional racism.   African Americans were 20% more likely than whites of comparable credit to be rejected for a mortgage.   Whites were 3 times as likely to appeal low insurance settlements as African American homeowners after Hurricane Katrina.   African Americans are 13% of the U.S population, but own only 3% of the assets.    Blacks pay up to 36% more than Whites and 23% more than Latinos for the same or similar home repairs or improvements.   African American homeowners are the least likely to read the fine print on mortgage, home repair and home improvement contracts.   African American homeowners are the least likely to comparison shop for home repairs, insurance and mortgage financing.   African American homeowners are the least likely to complain if overcharged for a home repair or a mortgage loan fee.   African American homeowners are the number one victims of predatory lenders and unlicensed contractors.   African American homeowners are the number one victims of racial steering and blockbusting tactics of real estate agents.   African American homeowners are the number one victims of home insurance redlining.   In 2003, 20% of Black families paid over half of their income for housing, twice the proportion to Whites.   Blacks and Latinos were the least likely to stay up-to-date on current housing trends (cost, interest rates) after purchasing a home. Lack of knowledge and information (Not Money) is behind the African American homeownership crisis. Current Information Is The Solution!   This Site Nominated For 2009 Black Web Award Vote Here!

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