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NewsDepth

Ohio Cities Will Use Some of Bank Settlement Money for Demolition

Posted Wednesday, February 15, 2012

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Featured on Episode of the 2011-2012 season

 

Ohio will share in a $25 billion settlement with the country's five biggest mortgage lenders. The lenders were accused of making bad deals and bringing on the foreclosure crisis. The money will be used to help current and former home owners. Ohio gets $335 million in the deal, and Attorney General Mike DeWine wants to use $75 million to demolish vacant homes that are bringing down values in their neighborhood. Ohio has tens of thousands of vacant, blighted homes.

Additional Information

Columbus Dispatch: Razing plans must be in gear to receive state funds
Plain Dealer: Cleveland covets mortgage settlement money for demolition of abandoned homes
National Mortgage Settlement
USA Today: Questions and Answers on the Mortgage Settlement
Bankrate.com: Banks make $25 Billion Settlement
More from New York Times

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A valuable source of current events for thousands of Ohio third through eighth grade students, this weekly news program helps teachers meet state academic content standards in language arts, social studies, and more while linking Ohio students with the world. Learn more about NewsDepth.

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Meet the Hosts!

Rick Jackson has been the host of NewsDepth for several years. He is joined by co-host Ida Lieszkovszky. They both work as reporters, producers and hosts at WVIZ/PBS ideastream in Cleveland. Learn more about Rick and Ida!

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