When it comes to honing in on the Hispanic auto market, Japan has shifted into high gear over the U.S.
According to a report from NBC Latino, researchers from auto market firm Polk found Japanese auto makers have come out ahead of Detroit’s auto industry in regards to keying into what Hispanic buyers are looking for.
For Latino homeowners facing foreclosure due to financial hardships, losing their homes may not be the only option. A state program helping homeowners in crisis has expanded its eligibility criteria, casting a wider net to give assistance until owners get back on their feet.
The Connecticut Housing Finance Authority’s Emergency Mortgage Assistance Program (EMAP) now allows homeowners with Federal Housing Administration (FHA) mortgage to qualify for assistance, whereas prior eligibility conditions ruled them out.
Borrowers facing foreclosure due to delinquent taxes, condominium fees or other assessments are also newly eligible. A final change now allows borrowers to retain up to $100,000 in pension and retirement funds, as long as they have been disclosed during the application process.
The state-funded program offers temporary assistance to homeowners who have faced a hardship that has affected their ability to make their mortgage payments. Homeowners with a documented hardship may receive loans for up …
During the recession, whites, blacks and Latinos were all impacted differently regarding their wealth and retirement assets. According to the The Urban Institute’s report “Less Than Equal: Racial Disparities in Wealth Accumulation”, whites actually increased their assets, while blacks and Latinos saw a decrease.
Out of the three groups, Latinos were the most negatively impacted by the recession, Politic365 reported.
Data from The Urban Institute report was taken from the 1980s, which found that whites starting out with “significantly more wealth” than Latinos or blacks accumulated more wealth over a lifetime.
The report found that whites started with four times more wealth in their 30s than Latinos and ended up with five times more wealth by their 60s. The lack of wealth caused Latinos to have more to lose when the recession hit because they were more likely to rely on their retirement assets. Figures showed Latinos lost 18 percent …
