Bank of America accused of better maintained, marketed foreclosures in white neighborhoods
Wednesday, September 26, 2012 at 10:28PM Bank of America is being accused of bias in managing foreclosed homes based on race. The non-profit group that filed a complaint against the financial giant claims that foreclosed homes in white neighborhoods are maintained much better than those in African-American and Latino ones. Reuters reports:
A nonprofit group on Tuesday accused Bank of America Corp of maintaining and marketing foreclosed homes in white neighborhoods much better than those it owns in African-American and Latino neighborhoods.
The National Fair Housing Alliance and its member organizations said they filed a discrimination complaint with the U.S. Department of Housing and Urban Development. It lodged similar complaints in April against Wells Fargo & Co and U.S. Bancorp.
The group reviewed 373 properties owned, managed or serviced by Bank of America in eight U.S. cities as part of its ongoing examination of how U.S. lenders maintain bank-owned properties. Investigators evaluated properties for problems such as broken windows, overgrown lawns, trash accumulation and a lack of “for sale” signs