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Wednesday, June 24, 2015

Cardin Calls for Investigation, Action to Address Mortgage Industry Housing Discrimination in Minority Communities

WASHINGTON – U.S. Senator Ben Cardin (D-Md.) along with a group of 13 senators have written a letter to federal housing, finance, and consumer protection regulators, calling for an investigation into potential violations of the Fair Housing Act by banks and lenders neglecting the maintenance of foreclosed homes in minority communities in favor of predominantly white communities. The letter asks the regulators to take appropriate actions to put a stop to any unequal treatment.

In their letter, the senators pointed to a report by the National Fair Housing Alliance (NFHA) which found that real estate owned (REO) properties in communities of color “were 2.2 times more likely to have significant amounts of trash and debris on the premises and 2.3 times more likely to have unsecured, broken, or damaged doors than properties in comparable predominantly white communities.”

“We strongly urge you—as regulators of the entities responsible for ensuring these properties are maintained, marketed, and sold to qualified buyers—to investigate this issue,” they wrote. “As we are sure you agree, stabilization for our country’s communities most impacted by the foreclosure crisis will require financial institutions to properly maintain and market REO homes regardless of the color of the skin or nation of origin of the other homeowners who live on the block.”

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7 comments:

  1. AnonymousJune 24, 2015 at 4:34 PM

    Yeh that's because they would get a 2.4 % profit on a flip in a black neighborhood.Wonder why that is.? Some leaders are so stupid.

    ReplyDelete
  2. AnonymousJune 24, 2015 at 5:57 PM

    Bottom line is that Cardin fears the truth because the truth is not politically correct. In Salisbury, I remember when Church St., the Dover St. area, and the Presidents streets area were great places to live and raise a family. As the properties became rentals the population changed and those neighborhoods began to falter with crime and trash. It's just the truth and the way it is, period.

    ReplyDelete
  3. AnonymousJune 24, 2015 at 7:43 PM

    Sounds like Cardin is pulling stuff out his butt instead of really helping people.

    ReplyDelete
  4. AnonymousJune 24, 2015 at 9:07 PM

    Glad this idiot doesn't speak on my behalf anymore.

    ReplyDelete
  5. AnonymousJune 24, 2015 at 9:49 PM

    Ben, You can't legislate homeless from breaking and entering abandoned, properly boarded up properties. I'm in the business, and at ground zero. You can board it up every day in that hood, and they will still need a place to stay.

    ReplyDelete
  6. AnonymousJune 25, 2015 at 6:53 AM

    This Poser must be really sweating his re-election chances

    ReplyDelete
  7. AnonymousJune 25, 2015 at 7:27 AM

    Where did we get these democrats? Instead of banning the Confederate flag we should start banning these democrat idiots that are the source of most of the racism in this country.

    ReplyDelete

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