Ohio AG goes after Countrywide

Cuyahoga County has been decimated by foreclosures and the Ohio AG has been active in that county’s Superior court cracking down on the bad mortgage lending practices that caused all that heartache.

It appears that the complaint filed against Countrywide aims at forcing the lender (acquired by Bank of America) to modify existing mortgages to stem the destructive tide of foreclosures that have left blocks of Cleveland blighted with empty houses preyed upon by thieves.

Complaint courtesy Courthousenews

On a related note, the Ohio House voted to allow Cuyahoga country to form a land bank that would buy up unredeemed tax foreclosure properties to prevent them from being flipped and remaining unimproved as well as destroying housing values in the neighborhood.

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