Alleged discrimination in marketing and maintenance of bank owned foreclosure properties

In April 2012, the National Fair Housing Alliance (NFHA) announced results of a national investigation into the maintenance and marketing practices implemented by major banks in the care of real estate owned (REO) properties. The investigations of over 1,000 REO properties took place in nine U.S. cities, including Philadelphia, and the neighborhoods selected were predominantly White or predominantly Latino, African American, or a combination of both. Nationally and locally, the investigation results revealed striking differences with the handling of bank-owned REO properties in White communities when compared to bank-owned REO properties in communities of color. While homes in predominantly White neighborhoods were more likely to have neatly manicured lawns, securely locked doors, and attractive “for sale” signs out front, homes in communities of color were more likely to have overgrown yards littered with trash, unsecured doors, broken windows, and indications of marketing as a distressed sale.

Web site: Read the complete report: “The Banks Are Back, Our Neighborhoods Are Not: Discrimination in the Maintenance and Marketing of REO Properties”

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Fair housing is not a privilege. It is a right.