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Race Relations

A new study shows that closing costs vary widely depending on factors like race and neighborhood. What the Department of Housing and Urban Development's found: all else being equal, African Americans and Latinos paid more on average. So did borrowers in neighborhoods where no one had a college education, and people who borrowed through mortgage brokers rather than banks. The HUD deputy secretary on the cost gap: "This is another tool we have so people understand the difficulties folks have when they go to buy a home. They don't have the information they really need to be able to shop and ascertain what they're signing." [SF Gate]