Predatory lending and its subsequent foreclosures result in a lot of devastating and costly consequences to our cities. Vacant, boarded-up homes lead to widespread problems: neighborhood destabilization, increased criminal activity, urban sprawl, declining property values, and an eroding tax base. This diminishes the local government's capacity to provide basic services like education and police and fire protection.

The Dayton area ranks 57th in the nation for loans made by subprime lenders, with over 15 percent of all refinances going to subprime lenders. Subprime lenders, common practitioners of predatory lending, dominated Dayton neighborhoods with minority populations over 30 percent and cover 50 to 89 percent share of the residential refinancing market. Foreclosure research has also revealed that in West Dayton (zip codes 45406 & 45407), there are at least 25 foreclosures filed per existing 100 households.

For Additional Information: www.mvfairhousing.com/cber/