Monday, August 20, 2007

Foreclosing Milwaukee

Probably not something Milwaukee needs to contend with at the moment:

A rising "foreclosure tsunami" is ripping through America's heartland, and Milwaukee is one of the markets that will be most devastated, according to a new report by the National Community Reinvestment Coalition (NCRC).

Milwaukee ranks fourth-worst among 251 statistical metropolitan areas in NCRC's study of overall racial disparities for loan rates given to homeowners. According to the report, more high-cost or subprime loans with adjustable rate mortgages (ARMs) are likely to be made to minorities in Milwaukee than most American cities.

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