“Lost Ground, 2011” is based on an analysis of 27 million mortgages made over a five-year period. Here are our top-line findings:
The nation is not even halfway through the foreclosure crisis. 6.4 percent of mortgages made between 2004 and 2008 have ended in foreclosure, and an additional 8.3 percent are at immediate, serious risk.
Foreclosure patterns are strongly linked with patterns of risky lending. Foreclosure rates are consistently worse for borrowers who received high-risk loan products that were aggressively marketed before the housing crash.
The majority of people affected by foreclosures have been white families. However, borrowers of color are more than twice as likely to lose their home as white households.