Half of home loans for area blacks high-cost

Journal Gazette | 10/11/2005 | Half of home loans for area blacks high-cost: "About one of every two home loans made to blacks in the Fort Wayne area last year � whether a new loan or refinancing was a high-cost loan, saddling borrowers with higher interest rates, higher fees and higher payments, a new study says.
About 48 percent of blacks buying homes in the Fort Wayne metropolitan area, which includes Allen, Wells and Whitley counties, got high-cost loans, and about 52 percent of blacks refinancing had high-cost loans, says The High Cost of Credit,� a national study of 2004 federal Home Mortgage Disclosure Act data by the Association of Community Organizations for Reform Now. ACORN is a national non-profit group that advocates for better housing."
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