Cleveland To Use National Mortgage Settlement Money To Demolish Homes, Sill Wants Banks To Pay

"Funds meant to help struggling families in Cleveland are instead being used to knock down vacant and dilapidated homes left in the wake of the foreclosure crisis that ravaged this midwestern city. Over the past five years, Cleveland has spent $60 million coping with thousands of deteriorating, empty houses, and has had to divert funds meant to help poor families obtain affording housing, according to city officials.

"We would have much rather spent that money helping families and creating homes rather than knocking houses down that we believe are owned by some very well-resourced banks," said Chris Warren, Cleveland's chief of Regional Development. The city has come out swinging again and again against the banks, filing suits looking to get them to foot the bill for maintaining vacant homes."

rest at http://www.huffingtonpost.com/2012/02/19/cleveland-mortgage-settlement_n_1275896.html