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How Prior Economic Disadvantage Exacerbates Foreclosure Risks for Older Women of Color

Jun 17, 2020

The Great Recession disproportionately affected older adults and women of color—groups relying on their homes for both housing stability and wealth. Despite this, research had not examined how mortgage troubles affected financial assets for older women across race and ethnicity. The authors built the work on awareness that initial inequality for a person or group may perpetuate over a life span despite high levels of responsibility and risk aversion

The authors explore how the 2008 housing crisis affected older women's experiences with mortgage trouble and asset depletion The study had two phases: the researchers conducted qualitative interviews with women who experienced mortgage difficulties and analyzed quantitative trends in older adults' total and financial assets. This dual approach allowed the researchers to explore the precursors of mortgage default and examine the prevalence of financial stress, mortgage trouble, and asset depletion among older, homeowning women.

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How Prior Economic Disadvantage Exacerbates Foreclosure Risks for Older Women of Color