Wednesday, May 23, 2007

THE NEW FACE OF FORECLOSURES IN CHICAGO IS BLACK AND MIDDLE CLASS


As Wall Street and fair housing advocates keep a watchful eye on the rising tide of loan defaults among the poor, a tidal wave of foreclosures is crashing ashore from the middle class.

29,000 foreclosures in the Chicago region occurred last year; the highest level of foreclosure in the last eight years, reports the Woodstock Institute.

Read more HERE.