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Home ownership while Black: Couple claims bias in appraisal | Business

NEW YORK (AP) — How much does it cost to hide photos of your family in your home or anything else that reveals your race? If you’re black and trying to find out how much your home is worth, one family estimates it could be hundreds of thousands of dollars.

A Baltimore couple is suing an appraiser and mortgage lender, claiming their home was severely undervalued because they are black, preventing them from refinancing their mortgage. The couple say a separate appraisal, conducted after they “whitewashed” the place by removing family photos and replacing them with white counterparts, put the home’s value at $278,000 higher.

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