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Cities now dealing with scores of abandoned, foreclosed homes have started suing banks and mortgage companies to recoup their costs, while other cities are hauling lenders before code enforcement boards and county courts to force them to maintain abandoned properties. The innovative legal tactics are designed to recoup the city's lost property taxes as well as any city services needed to clean up or deal with the foreclosed properties.
May 05, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
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