Tagged: Foreclosures

County officials in southwest Ohio have filed a class action lawsuit against two mortgage giants they say owe millions in unpaid taxes.

Montgomery County officials filed a federal lawsuit Wednesday that says Fannie Mae and Freddie Mac wrongfully claimed various exemptions to avoid paying transfer taxes to state counties.

Ellen Belcher, who's filling in for Emily McCord, interviews Attorney General Mike DeWine about the $75 million he's awarding to counties in Ohio to tear down the tens of thousands of homes that have been foreclosed on and abandoned.

Montgomery County is eligible for $4 million; Greene County could get $700,000 and Clark County could take in $1 million.

Ellen Belcher, who is filling in for Emily McCord, interviews Jim Rokakis, one of Ohio's top experts on the foreclosure crisis and land banks. In Cuyahoga County and elsewhere across the country, communities are creating land banks to take possession of abandoned properties and to demolish the eyesores. Once a property is cleared, the land bank works to redevelop space that previously was a drag on the neighborhood -- and tax rolls. Montgomery County is in the process of creating its own land bank.