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Truth is in favor of you and me; for the truth of our enemies whom we have been serving here in the U.S.A. for over 400 years (whom we did not know to be our enemies by nature) is the truth that the Black Man must have knowledge of to be able to keep from falling into the deceiving traps that are being laid by our enemies to catch us in their way which is opposed to the way of righteous of whom we are members. ~ The Honorable Elijah Muhammad

Sunday, December 30, 2012

The spillover affects and costs of foreclosure

 “Our wonderful neighborhood has changed right before our eyes and we keep waiting for some super hero or government agency to come and fix things but it isn’t happening. We would move too but we owe more money on our home than it’s worth. So we’re stuck,”

Foreclosures across the United States have drained nearly $2 trillion in property value from surrounding households, more than half of it from Black and Latino homeowners, according to a new study from the Center for Responsible Lending.

The $2 trillion figure estimated in the report represents only part of the total cost of foreclosures, since the spillover costs do not include equity lost by families who are foreclosed on, nor the billions of dollars drained from communities as a result of lost tax revenue, vacant properties, increased crime, and lower school performance by children.  The Final Call... 

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