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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsBig Banks slack on maintaining foreclosed homes in minority areas complaint charges
http://www.nationofchange.org/big-banks-slack-maintaining-foreclosed-homes-minority-areas-complaint-charges-1334667970Wells Fargo and U.S. Bank have let foreclosed homes in black and Latino neighborhoods lapse into disrepair, while bank-owned homes in mainly white neighborhoods are better cared-for, according to housing advocates.
The National Fair Housing Alliance, a non-profit group, brought a formal complaint to the Department of Housing and Urban Development last week alleging that Wells Fargo violated the Fair Housing Act by failing to keep up homes in minority neighborhoods. Today, the group announced they are also filing a second complaint, against U.S. Bank.
Earlier this month, the group released a survey, which was funded in part by HUD, of more than 1,000 unoccupied, foreclosed homes across the country owned by unspecified banks. When a house is foreclosed upon, the bank that takes it over is responsible for maintaining it. The report cites evidence photos and interviews with neighbors showing houses becoming dilapidated under banks' watch.
The complaint against Wells Fargo claims that among more than 200 homes surveyed, those in black and Latino neighborhoods were much more likely to have yards filled with trash, broken doors, damaged windows, and other signs of neglect. Fewer homes in those neighborhoods had "for sale" signs visible. For example, 68 out of 149 homes in black and Latino neighborhoods had damaged roofs, compared to only nine out of 69 properties in white neighborhoods.
dkf
(37,305 posts)That seems more like mistreatment by others in the area.
marmar
(77,090 posts)nt
dkf
(37,305 posts)Do you think they get equally naturally trashed and the banks send maintenance crews just to white neighborhoods?
You can assert that if you believe it.
Response to dkf (Reply #1)
leftyohiolib This message was self-deleted by its author.
leftyohiolib
(5,917 posts)not saying that THIS survey is valid or not just that you can pay someone to get a survey that will say anything you want it to say
pansypoo53219
(20,993 posts)my old neighbor's stucco bungalow has been foreclosed. upper windows broken, the front enclosed porch is in a bad state. but the stucco is still in great shape. FUCK bankers. more houses boarded up. and those houses USED to be gorgeous early 1900's.
SoCalDem
(103,856 posts)The police said.."Not our problem".. The real estate people whose sign was is the yard said "Not our problem".
I was worried sick that a palm tree would be set afire & take our house with it. It finally sold at auction for $62K and was "modestly" rehabbed & is now rented..
In 2005 that same house sold for $385,000.00
It was one of SEVEN on our street that had been repo-ed.
Needless to say the housing values in our immediate area still sucks.. At least all homes are now occupied, and the vandalism has stopped.