Wall Street Journal (07/11/08) P. A12; Simon, Ruth
The nonprofit community development group Price Hill Will has filed suit against Deutsche Bank AG in state court in Hamilton County, Ohio, accusing Deutsche Bank National Trust of failing to maintain foreclosed properties and creating blight in Cincinnati's Price Hill neighborhood. The organization wants Deutsche Bank to pay damages and wants the court to force the company and other financial institutions to ensure that vacant properties comply with building codes. Deutsche Bank says it handles mostly administrative duties as a trustee of mortgage-backed securities, noting that Wells Fargo Home Mortgage and Citi Residential Lending are responsible for two of the properties in question. The suit underscores problems in pinpointing which party is in charge of maintaining foreclosures.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment