The foreclosure crisis hit Cleveland particularly hard. Between 2000 and 2008, Cuyahoga County, Ohio, (where Cleveland is located), recorded approximately 80,000 foreclosures. In 2007, County Treasurer Jim Rokakis described the city as “the epicenter of the mortgage meltdown in America.”
Cleveland responded in the classic American fashion: With lawsuits.
This week, the Sixth Circuit Court of Appeals ruled that a federal court could have granted Chase Bank’s request to block the city’s claims. Not that it matters now, Legal Newsline reports.