Immigrant Communities Hit Hard by Mortgage Crisis

In the Senate, Chris Dodd is making his displeasure known, on the subject of lax oversight of sub prime mortgages, which offer tantalizingly low initial payments, followed by sudden increases.  These loans, issued willy-nilly during over the past few years, are leading to a spike in delinquency and foreclosures, and nowhere are the effects being felt stronger than in immigrant communities.  Today's WAPO article is a good way to learn more about the expanding and very negative economic phenomenon, but NDN readers will also find the metric they use interesting: calls to a Spanish language radio talk show.

Tysons Corner mortgage broker Jose Luis Semidey, who has a popular Spanish-language real estate talk show on Radio Universal, is being deluged with calls from desperate homeowners who are falling behind on their mortgages. The calls started in late 2005 and have steadily risen; he now receives 40 to 50 calls a day from throughout the area.

"I see more coming," Semidey said.

NDN works with Spanish language radio stations, shows and personalities across the country to help them engage their listeners in the comprehensive immigration reform debate, and other issues that impact their communities.  Click here to learn more about NDN's innovative ad campaigns on Spanish language radio.


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