Study says foreclosures have cost the Minneapolis Public Schools $150 million

City Pages.  October 10, 2011

Excerpt:

"The report points out that Wells Fargo, the largest bank in the Twin Cities, has appeared on both ends of the foreclosure crisis. First the study documents Wells Fargo's history of issuing subprime loans, the very devices that led to many foreclosures in the first place. Then, on the rebound, Wells Fargo has foreclosed on some 300 homes in Minneapolis.

Neighborhoods Organizing for Change is calling for several reforms, including a new state law to force banks to file an affidavit explaining why it couldn't restructure the loan of a foreclosed home."

Read the full story at City Pages.

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  • published this page in News at NOC 2012-01-04 20:01:10 -0600

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