Fannie Mae accused of neglecting foreclosed homes in nonwhite communities

Chicago Tribune ^ | 5-13-2015 | Mary Ellen Podmolik

[Citizen Zed]

Maybe they maintained the homes that were worth maintaining. Does a foreclosed home have civil rights?

[9thLife]

I think if they keep replacing the AC units, HW heaters, and copper wiring, they’d find it very much like Home Depot having a big sale.

[A CA Guy]

Maybe the theft and violence level of those areas posed a big risk.

[2banana]

Easy solution - stop lending to people that can’t afford houses and don’t have 20% down and a steady job.

Oh wait - that would be discriminatory to minorities too!

No way to win with the liberals...

[manc]

Why can’t they go back to how one had to have 20 or 15% down first?

That way it would show the loaner that the people were serious and they can afford the house.

[wagglebee]

Inspections during the past five years of more than 2,100 foreclosed properties owned by Fannie Mae showed a widespread pattern of neglect in nonwhite communities that included homes with broken or damaged windows and doors, safety hazards, overgrown lawns and accumulated trash, according to the complaint. It found, for instance, that almost 24 percent of properties in nonwhite communities had unsecured, broken or boarded doors,

And in what percentage of these houses was this the case LONG BEFORE foreclosure?

The concept of not throwing good money after bad has a lot more merit than many would like to admit.

[icwhatudo]

Cars parked in the inner city tend to be less well cared for than those in the suburbs. More flat tires, rust, and broken windshield than those in white neighborhoods.

Has to be racism on the part of Auto Mechanics.

[bray]

Gee, wonder why?? Must be raccccccccccccccccccccccccccims.

Pray America is waking

[DiogenesLamp]

Since Fannie Mae and Freddie Mac *CAUSED* the massive problem we are currently experiencing with foreclosed homes by creating mortgages for unqualified buyers, mostly in minority areas, then I really don't see why we should make a fuss about how they are running things now.

Had they been doing their jobs properly, many of those houses in question would not *BE* on the foreclosure list.

This is another thing that can be blamed on Bill Clinton and further back Jimmy Carter. If Carter hadn't created the Community Reinvestment Act, and if Bill Clinton hadn't insisted taking action on the racial disparities the act deliberately tabulated, then none of this would have happened in the first place.

People who couldn't afford mortgages wouldn't have gotten them, the financial collapse of 2008 wouldn't have happened, and probably stupid Barack wouldn't be President.

Jimmy Carter: A President so stupid his idiocy can reach out of the past and continue screwing things up in the present.

[DiogenesLamp]

Easy solution - stop lending to people that can’t afford houses and don’t have 20% down and a steady job.

Sure, we can do that right after we make the Democrat Party illegal, because that's who did it.

[sport]

Who would want one of them?

[lurk]

Creating a mortgage contract in a neighborhood of thieves, druggies and feral youth. What could go wrong?

[Vigilanteman]

An alternative would be shell homes where they would put in their own labor to lay carpeting, flooring, hang drywall and the like. If you can't afford to put sufficient money down, at least you can afford a little sweat equity.

This works really well with public housing in Japan and, over time, they will encourage you to take over ownership.

The complicated stuff like roofing, doors, windows, electrical and plumbing is done and people convert over the rest over time. Rent increases if certain jobs aren't done over a certain time frame and, if you decide to have someone else do them, you can opt out of the lower payments and get them done sooner.

[Williams]

What’s the likelihood? That Fannie Mae 6 years into the Obama thing, is discriminating against non whites?

Zero zilch nada.

[Doogle]

..by order from the White Hut no doubt

[PGR88]

Its nothing a $1 million donation to Al Sharpton or ACORN won’t fix.

those sorts of agreements made both sides rich in the past.

[Tax-chick]

Had they been doing their jobs properly ...

They did their jobs "properly" as defined by their political overlords.

[VerySadAmerican]

I believe there is another round of foreclosures just around the corner. There are three that popped up in my neighborhood in the past few months.

[Da Coyote]

‘Twould seem logical.

Do we need reasons?

[VerySadAmerican]

The real question is how did “non” white communities come to be? Was someone discriminating against white buyers?