Sub-Prime Mortgage Mess Disproportionately Affects Women

For each of the last four years, more than half of the foreclosures in the [Baltimore neighborhood subject of this New York Times article] have been homes owned primarily by women, according to an analysis of public records by the Reinvestment Fund, a nonprofit community development organization.

The foreclosures threaten the neighborhood’s fragile stability. And they highlight a broader dimension of the housing meltdown: subprime mortgages, which are driving the foreclosure rate, have gone disproportionately to women.

Single women have been among the fastest-growing groups of homeowners in recent years, and in Baltimore they accounted for 40 percent of home sales in 2006, twice the national average, according to the National Association of Realtors. Nearly half of these mortgages were subprime, National Community Reinvestment Coalition found. For the remainder of the article click here.