On April 4, the National Fair Housing Alliance (NFHA) and four of its local member organizations announced the results of an undercover investigation into the ways the nation’s financial institutions are failing to maintain and market Real Estate Owned (REO) properties in African-American and Latino neighborhoods.

The investigation of REO properties in nine major U.S. cities found striking incidents of discrimination in the care and maintenance of properties, with foreclosed properties in White areas being much better maintained and marketed than those in neighborhoods of color. 

A report of the investigation, “The Banks Are Back, Our Neighborhoods Are Not: Discrimination in the Maintenance and Marketing of REO Properties,” was released on Wednesday, April 4.  It details the results of the evaluation of more than 1,000 REO properties located in and around Atlanta, GA; Baltimore, MD; Dallas, TX; Dayton, OH; Miami/Fort Lauderdale, FL; Oakland/Richmond/Concord, CA; Philadelphia, PA; Phoenix, AZ; and Washington, DC.

“This report offers evidence that banks responsible for peddling unsustainable loans to communities of color and triggering our current foreclosure crisis are continuing to damage those communities by failing to properly maintain and market the properties they own,” said Shanna L. Smith, President and CEO of the National Fair Housing Alliance.

“This is an investigation – not a study –- that will culminate in the filing of administrative complaints with HUD and/or lawsuits in federal district court,” continued Smith.  “The first complaint will be filed shortly.”

The National Fair Housing Alliance in Washington, D.C., and four of its member organizations – the Miami Valley Fair Housing Center in Dayton, OH; Housing Opportunities Project for Excellence in Miami, FL; Metro Fair Housing Services in Atlanta, GA; and North Texas Fair Housing Center in Dallas, TX – evaluated the maintenance and marketing of REO properties on a 100-point scale, subtracting points for broken windows and doors, water damage, overgrown lawns, no “for sale” sign, trash on the property, and other deficits.

The evaluations took into account 39 different aspects of the maintenance and marketing of each property.  Overall, REO properties in communities of color were 42 percent more likely to have more than 15 maintenance problems than properties in White neighborhoods.

Some trends the investigation revealed include:

• REO properties in communities of color were 82 percent more likely than REO properties in White communities to have broken or boarded windows;
• REO properties in White neighborhoods were 32 percent more likely to be marketed with the proper signage than African-American neighborhoods and 38 percent more likely than in Latino neighborhoods; and
• Newer homes generally scored higher than older homes, but racial and ethnic disparities persisted with non-structural factors such as curb appeal and signage.

“We hope that banks will heed the information in this report and take immediate action to correct the disparate treatment we have found,” continued Smith.  “The proper maintenance and marketing of REO properties is a key factor in the sale of homes to families rather than to investors.”  The report contains details specific to each city and gives extensive recommendations on how to fix these problems.

The Fair Housing Act makes it illegal to discriminate based on race, color, national origin, religion, sex, disability or familial status, as well as the race or national origin of residents of a neighborhood.  This law applies to housing and housing-related activities, which include the maintenance, appraisal, listing, marketing and selling of homes.

To read the full report, please go to www.nationalfairhousing.org.

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Despite recent accusations of sexual harassment, Herman Cain is tied at 21% for support with Mitt Romney according to a recent USA/Gallup Poll. Herman Cain addressed the claims made by four women who came forward on Tuesday during a press conference in Phoenix on Tuesday.

Sharon Bialek was the first woman to speak publicly about her confrontation with Mr. Cain during a meeting for a job with the National Restaurant Association more than 10 years ago. On Monday she stated that Herman Cain had sexually harassed her during a car ride.

Cain has denied all accusations and held a press conference in Phoenix on Tuesday to address this issue. A confident Cain stated, “With respect to the most recent accusation, I have never acted inappropriate with anyone, period. I saw Ms. Bailak in that news conference for the very first time.” He said he did not know who the woman was nor did he recognize her name.

Ms Bialek is the fourth woman to put forward accusations about Cain’s inappropriate sexual advancements and the first to speak on record about the alleged assault. Her graphic description of the course of events a decade ago have led many to question both sides of the story. The other woman have not publicly come forward yet about their experience with Cain.

In an effort to put the rumors to an end, Cain said he would take a lie detector test, and that these accusations have not given him any reason to back down from running for president and would not prevent him to continue his campaign. He stated, “I will not allow false accusations to compromise or shed badly on my character and my integrity.”

As for support, Cain said he expects people will be turned off by the accusations and public opinion, but he has said that most of his supporters have expressed that they do not believe the claims. He thinks that rebuilding trust upon candidates will be a challenge but hopes to continue to represent his supporters.

So why exactly would these random women come forward against Cain? Cain addressed this by saying he did not know their motive but thinks it is because they do not want to see him become president. He said they do not have factual proof, that it is a conspiracy theory, and some coincidences indicate that somebody is behind the women coming forward.

As far as his competition goes, Romney could use this opportunity to take the lead. Romney has responded to the claims as “disturbing.” Cain agreed with Romney saying that he thought the accusations were “disturbing” as well.

According to a USA Today poll, 47% of people interviewed believed the accusations were false, while 33% believed they were true. After the press conference on Tuesday, it will be interesting to see if Cain can maintain his thus far unshaken support.

Image Courtesy of   http://www.flickr.com/photos/gageskidmore/

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