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Home » Store » Profitability » REO Properties in Minority Neighborhoods Receive Less Maintenance, Attention

REO Properties in Minority Neighborhoods Receive Less Maintenance, Attention

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Profitability

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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...
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