THIS WEEK'S ISSUE — Updated Every Monday!
With Hollywood for years being a haven for the long-haired blond and brunette, it’s hard to be a sex symbol…
We’re only human and equally subject to the chronic brainwashing that inevitably instills varying degrees of bigotry. Racism, sexism, homophobia,…
Times are hard especially financially, however, my girlfriend does not seem to realize the whole world is undergoing something called…
I remember exactly where I was that night that history was made. I was fast asleep in my bed and…
It was proven best in the fashionable documentary The September Issue, that Fall is the New Year’s of fashion. Fashion…
I vividly remember the day I got my first relaxer. I was 7 years old, and there I sat in…
Brilliance is defined as: having or showing great intelligence, talent, and quality. Well, if you’ve ever had the privilege of watching…
Once upon a time (i.e. this past spring), Spike Lee put Tyler Perry on blast:
“Each artist should be allowed to…
I remember way back when… Reminisce with me. Life was less complicated for a youngster. My Huffy Bike was valet’d in the driveway, Saturday morning cartoons were in heavy rotation, Puma wasn’t just an animal at the zoo…
Who can take out a housemaid with a single Smackberry? Who can rock community service hours in New York City’s…
Who sold this idea to women that it is the sole responsibility of a man to always have condoms at…
It seems like every week a new skin care cream hits the shelf. Products for frown lines, laugh lines, crows…
Talent aside (ahem), there have been very few celebrities who warrant as much media coverage as Robyn Rihanna Fenty. Sure,…
You can kill the revolutionary, but you can’t kill the revolution. – Fred Hampton, Nov. 3, 1969
This week I came across…
The conflict in the Congo is a much overlooked atrocity that is claiming the lives of hundreds of thousands of…
I remember when I was in high school. When it came to fitting in with all the different peer groups…
Have you ever come across a group of juveniles whose fundraising practices consist of canvassing commercial hubs, or expressway entry…
So you spent a lot of the governments change (not the free kind) getting your education, you haven’t gotten into…
Minorities hit hardest by housing crisis
By Dana Ford LOS ANGELES (Reuters) – In May, Alvin Clavon received a foreclosure notice on the simple, Spanish-style house in South Los Angeles that he shares with his wife and three boys. Clavon bought the place in 2003 with a fixed-rate loan. They painted the walls, fixed the yard and made friends with the neighbors, who let the Clavon boys pick their basil.
In 2005, he worked with a mortgage broker to refinance his home with another fixed-rate loan. But on the night before signing, the family was offered an interest-only, adjustable-rate mortgage. Clavon, a 35-year-old executive assistant at a bank, said he felt stuck. The ball was rolling, he trusted his broker and so the next day, he signed the loan. “Turned out to be the worst thing I could have done,” said Clavon, who like so many others in danger of losing their home to the U.S. housing crisis, is African American.
The Clavons live in a zip code, 90047, with one of the largest black populations in the city, and also one of the highest rates of foreclosure — a common combination. Researchers agree minorities are more likely than whites to get high-cost mortgages, but analysts can’t agree why. Does the 90047 zip code have a high foreclosure rate because African Americans were forced into high-cost loans? Or is the area’s foreclosure rate the result of economics?
Either way, say some minority and housing activists, the fact that minorities are disproportionately hurt by lending practices in the United States is real — and so are its consequences.
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