Study: Blacks in Mahoning County receive more predatory loans
YOUNGSTOWN — Nearly half of Mahoning County’s black residents who bought a house in the county between 2004-11 received a predatory loan.
There were 46.7 percent of blacks who received a “loan with predatory-style characteristics,” said Robert Gaudin, director of research and planning for Western Economic Services LLC.
The company conducted a fair-housing study for NEO Sustainable Communities Consortium, which covers Mahoning and Trumbull counties.
For the Eastgate region, which includes Mahoning, Trumbull and Ashtabula counties, 42.8 percent of blacks received predatory loans, according to study information. This compares to 17.4 percent of whites between 2004-11.
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