Thanks for the response.
Is there any statistical information available that reflects what percentage of these loans were were sold to buyers in these poorer communities on a national level?
I'm sorry but I didn't ask the question correctly. Many of these mortgages were sold to families across the country who in reality could not afford them. The standards to qualify for these loans were lowered a great deal over the years so investors could make money when they foreclosed on...
A while back a few people told me that the majority of customers who purchased mortgage backed securities to buy homes were minorities.
I responded by saying that the race of the buyers didn't matter and that the financial crises would of happened regardless of who bought them.
I've tried...