REO Properties in Minority Neighborhoods Receive Less Maintenance, Attention
April 6, 2012
Banks maintain real estate-owned properties unequally, with properties in minority communities showing clear signs of vacancy while those in white communities receive necessary attention, according to a new investigation by the National Fair Housing Alliance. The investigation, outlined in the report The Banks are Back Our Neighborhoods are Not: Discrimination in the Maintenance and Marketing of REO Properties, looked at 1,036 REO properties in nine different metro areas, comparing those in predominantly Latino and African-American neighborhoods to those in predominately white communities...