Forty-eight percent of African-Americans and 34% of Hispanic Americans have bad credit records -- versus 27% of whites -- according to a study by Freddie Mac.

The study was unveiled at a press conference Tuesday by the government-sponsored enterprise, which says it did the research under an initiative to improve African-American families' homeownership opportunities. Leland C. Brendsel, chairman and chief executive officer of Freddie Mac, said: "Homeownership gives people a stake in their communities. Many minority families have not achieved the dream; or if they have, they have paid too much."

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