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It looks like Cleveland’s preadtory lending law really did it’s job huh? Foreclosures doubled in Cuyahoga county during it’s enforcement. They try to blame mortgage brokers, but brokers are not the ones making the lending guidelines.
Now the hard part:reigning the greedy Wall Street bastards who brought this to our nation’s cities. This is worse than redlining!
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Input from Dayton: what the guy says is sure true here. Montgomery County is among the nation’s leaders in foreclosure rates, and I am personally aware that shady loans and inflated real estate appraisals have played a major role.