Mortgage settlement money will pay for demolition of Cleveland houses

11:41 AM, Feb 10, 2012   |    comments
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CLEVELAND -- Ohio Attorney General Mike DeWine says $75 million of Ohio's portion of a nationwide mortgage settlement will be used in Cleveland to demolish vacant home.

DeWine toured the East 144th and Kinsman neighborhood Friday. The area has been hard hit by the housing and foreclosure crisis

On Thursday, the nation's biggest banks agreed to pay out $25 billion to the states to help victims of foreclosure abuses.

The settlement aims to help homeowners in need of loan modifications, borrowers who have lost their homes to foreclosures, and those who owe more than their house is worth.


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