January 11, 2008

Cleveland sues banks over foreclosures (AP)

An auction sign rests in front of this foreclosed home in Shaker Heights, Ohio in this Tuesday, Oct. 30, 2007 file photo.  The city of Cleveland, an epicenter of the nation's home foreclosure crisis, has sued 21 banks, claiming their subprime lending practices have created a public nuisance that hurt property values and city tax collections. The lawsuit, filed Thursday in Cuyahoga County Common Pleas Court, seeks to recover hundreds of millions of dollars in damages, including lost taxes from devalued property and money spent demolishing and boarding up thousands of abandoned houses. (AP Photo/Tony Dejak, File)AP – The city of Cleveland, an epicenter of the nation’s home foreclosure crisis, has sued 21 banks and claimed their subprime lending practices created a public nuisance that hurt property values and city tax collections.

Permalink • Print

Trackback uri

http://www.jolinszsells.com/938/cleveland-sues-banks-over-foreclosures-ap/trackback/