Black borrowers pay $13,464 more over the life of a home loan, with interest, mortgage-insurance and tax expenses higher than for their White counterparts, further hurting African Americans’ ability to save for retirement, according to a new study. The biggest reason for the gap is the risk-based pricing found in most U.S. mortgages, which disadvantage… Continue reading Black Homeowners Pay $13,464 More on their Mortgages, Study Says
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