LendingTree: “32% of Black Homeowners Believe Their Home’s Value Was Unfairly Appraised”

Written by DENNY CEIZYK | Edited by DAN SHEPARD and PEARLY HUANG

Updated on: February 15, 2022 | READ THE FULL ARTICLE HERE

Black Americans frequently face challenges achieving homeownership, even in areas with large Black populations, according to a 2021 LendingTree study. Those fortunate enough to overcome financial hurdles to become homeowners may face a different obstacle: appraisal discrimination.

The newest LendingTree survey finds that more than 1 in 5 Americans who’ve had to get a home appraisal — typically to refinance or sell a home — believe the value was too low at least once in their lifetime. And 21% of these current or past homeowners suspect the subpar value was based in part on their race, gender, sexual orientation or religion.

LendingTree surveyed 2,100 consumers, including more than 900 who have commissioned a home appraisal. Researchers asked about their appraisal experiences to learn what steps they took — and what steps they think need to be taken — to overcome concerns about home appraisal discrimination…. READ FULL ARTICLE HERE