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Black homeowner, 2 appraisals, $62,000 difference

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Chicago Sun-Times Morning Edition
Christina Jordan was in the process of purchasing a new condo in Chicago’s Woodlawn neighborhood when the coronavirus pandemic upended daily life, making her question if it was the right time to move.
The 37-year-old abandoned her plans, but decided to refinance her Oakland condo after hearing it was a good time to get a lower interest rate. When she got her home appraised, she was surprised to see it valued at $278,000 — $1,000 less than she paid six years earlier.
So Jordan decided to get a second appraisal; this time, she didn’t disclose her race on forms. It was $62,000 higher than the first. Elvia Malagón has the story…
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Black homeowner, 2 appraisals, $62,000 difference
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