ICYMI: The Austin family sunk $400,000 into renovating their home, but were stunned when they barely gained any value during the appraisal process. When they had a white woman pose as the homeowner, that all changed—by half a million dollars.
Full story:
@JulianGABC7
Mr. Glover, your guest that said Black mortgage applicants have more student debt should have also explained that Freddie Mac and Fannie Mae lowered the student loan debt load calcs to allow more millenials to qualify. And Black applicants are still being negatively impacted.
@PettyWakandan
And Black women, in particular, are suffering the most. That story is coming in the next two weeks. We only get so much time to tell a story. Thanks for the input.
@JulianGABC7
@DianeSwonk
Home appraisals are not super difficult. There’s square footage and comps. I’d like to look at the first appraisal at which comps were used.
@JulianGABC7
@Magicnmaddness
And yet people don’t realize there’s a problem. Maybe realize is the wrong word - maybe “want to believe” is the right phrasing. :(
@JulianGABC7
And white people and keens will say, there is no racism. No such thing as systemic racism.
Its political, financial, spiritual, educational, militaristic and we must continue to call it out every damn time.
@JulianGABC7
@EvanDonovan
Quite a stretch here. If the same appraiser had found different values, you’d have a point. But you can’t compare work by different appraisers and make the assumption that it was based on perceived race of the owners. Publish the actual appraisal reports by both and let’s see.
@JulianGABC7
Serious question: how does the appraiser (or anyone) benefit by lowballing them here? It's not like they are just going to dump $400K into it & just say "oh well".
@JulianGABC7
So many unanswered (because unasked) questions here. They bought house, moved in, renovated, then were getting an appraisal? Why? What did the bank say about all of this? What did either appraiser say? Did anybody ask any questions at all? Or let’s just assume it’s racism?
@JulianGABC7
I'm not saying race wasn't involved in this couple's first appraisal, but the article is hot garbage. No investigation of the actual incident so somebody could possibly be held accountable. Just lip service about systemic racism.