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Resource ID: #13780
Subject: Mortgages
Source: Washington Post
Affiliation: 
Date: 

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Description

The Washington Post investigates Capital City Mortgage Corp, a local lender in the District of Columbia, who routinely made loans at 24 percent and higher to poor, badly educated homeowners who then often lost their properties through default and foreclosure. The company foreclosed at rates higher than similar lenders and typically Capital City sold the property later itself, making a profit. (May 5-6, 1996)

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