(National Mortgage Professional Magazine) — Four fair housing have organizations released their joint findings after a year-long investigation into the ways that banks secure, maintain, and market the foreclosed properties they own. “Here Comes the Bank, There Goes Our Neighborhood: How Lenders Discriminate in the Treatment of Foreclosed Homes,” reports the results of an investigation of 624 real estate-owned (REO) and distressed properties located in Washington, D.C.’s Maryland suburbs; Dayton, Ohio; New Haven and Hartford, Conn.; and Richmond, Va. The investigation found that banks are discriminating in the treatment of their properties, as they generally take greater care to maintain and secure the properties that they own in white neighborhoods than they do in African-American neighborhoods.
