crisis  01Foreclosure Crisis Lingers in the Black Community

 

This is a nycaribnews.com article.

 

In 2007, the NAACP filed suit against Bank of America, Citibank, HSBC, JPMorgan Chase and Wells Fargo, alleging that these financial institutions had committed unfair lending practices.

n Prince George’s County, Maryland — one of the United States’ wealthiest majority-Black jurisdictions — the foreclosure crisis has hammered several solidly middle-class communities. These include Perrywood, a neighborhood of two-story homes near the county seat in Upper Marlboro; Marleigh in Bowie, where the local homeowners association mows the lawns of foreclosed residences that the banks don’t maintain; and Fairwood, where the median income is $170,000, according to the U.S. Census.

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