This document discusses the disproportionate impact of the subprime mortgage crisis and foreclosures on African American communities in Baltimore. It notes that homeownership represents 80% of net worth for many African American and Hispanic families. Data shows that African American neighborhoods in Baltimore have higher rates of subprime and adjustable rate loans, leading to more foreclosures. This results in significant losses of wealth and assets for these communities. The document argues for using social networks and community organizations to provide financial education and prevent further foreclosures.

1. Breaking the Silence of Shame Stopping the leakage of wealth – using social network/social capital to move people to action especially in African American communities Associated Black Charities