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by CareyBot

As the one-year anniversary of the Obama administration's Homeowner Affordability and Stability Plan approaches this week, a new study reveals the damage foreclosures have had on Latino families and recommends government intervention to ease the financial and psychological effects of losing a home, the National Council of La Raza said Tuesday. "An estimated 1.3 million Latino families will lose their homes to foreclosure between 2009 and 2012. This represents a shocking loss of wealth and a major blow to community stability," said Janet MurguĂ­a, the civil rights advocacy organization's president and CEO, in a statement. Latinos and blacks were more than twice as likely as whites to be offered a subprime loan and the housing collapse has therefore disproportionately af...