Juan M. Alvarez is a by-the-pound kind of guy. When he was in the United States from Mexico in 1990, emigrated to the lawyer, his Hired ensure proper documents. The workers' wages from a large home building firm a few miles east of San Francisco, his family of four on a modest budget, as is a set of carefully designed to make money to buy a house and sent money to his family life in the Mexican state of Sinaloa. The economic slowdown in 2001, when his colleagues' retirement accounts has fallen, he used his savings, which he hid in a bank account at home in Contra Costa County to buy. He realized the American Dream. “I I tried to be true, but now everything is wrong. ” Today, eight years later, Alvarez is actively seeking alternatives to foreclosure that the value of his biggest investments – and dream sinks -. In order to Alvarez, the extreme twist of fate dissolves sadness, but it bothers his family and friends who are Hispanic Alvarez nice, too trusting to believe the man, targeted and harassed because of race, as Latino. Recent reports show friends and family may have a valid number. Contra Costa County, near San Francisco, has about 250,000 Hispanic residents, 23% of the populationBased on RealtyTrac's monthly survey. Although the district average of 1 in 8,272 units of foreclosure, foreclosure rates are more than 75 percent for black and Hispanic majority districts, according to research from 2008 to the Centre for Innovation in the Community at the University of California at Berkeley. 8 of 10 in Contra Costa foreclosures is the result of risky loans, the majority belonging to minorities. In 2006, the Hispanic home buyers a much more likely to sub prime loans reported by the Center for Responsible Lending, “Unfair Lending: race and ethnicity on the price of subprime mortgages.” Additional studies in relation to other minorities, minority borrowers with the same result of the credit, who reside in the same neighborhood, African-American and Latino borrowers are more likely to commit one third to one expensive loans. are primarily white communities, like in Contra Costa County, Instituto de la Raza studies concluded that Latinos 2.5 times more likely to receive subprime loan. However, do not feel Alvarez was the victim of racial targeting. “I make my own decisions and he broke his own American dream,” complains. In mid-2005, met with Spanish mortgage Alvarezconfidence to share their financial success, but hit a string of intermediaries, since it means that Alvarez was probably too much to pay per month for a mortgage. Shortly thereafter, Alvarez asked the broker to refinance their mortgages and reduce their monthly payments. Spanish Broker Alvarez, sold mortgages on the brink of foreclosure is less than an anomaly, and the national trend. Fair Lending Center research covers most of the issuers of credit marketing in the vicinity of minorities, particularly Spanish-speaking people who pursue predatory lending techniques, such as loans, which require excessive interest rates to refinance high fees and do not take into account the borrower to pay. Claims arising from the tape 9000000000 wealth of a nation of dollars a year from fees and defaults. understand the large banks of different mortgage products on the market in the areas of motivation by small, local culture and language barriers. And managers who do care for Latino community to do business in Spanish, response, surveillance, many borrowers consortia rights. With the increase in monthly income 'home' in the way of eggs fixed-rate loanth – an increase of 14% of disposable income – seems to be insufficient to pay for a new luxury you want, such as mobile phones, flat-screen TV and a new car. Short-term thinking is one of the biggest obstacles for Hispanic personal financial success, says Louis Barajas, author of “The Latino Journey to Financial Size: 10 steps to creating prosperity, security and prosperous future for you and your family. Barajas is not surprising that Latinos are the victims of t