On Friday, US Senator Sherrod Brown stopped by Franklinton with a message of support for local residents. Brown said that he wants to see funding directed to the neighborhood from the recent $16 billion settlement between Bank of American and the US Department of Justice to resolve homeowner issues.
“Ohio’s communities bore the brunt of the abusive and illegal tactics used by big banks to deceive homeowners during the depths of the housing crisis,” he stated. “It’s time that the big banks make right for these practices and reinvest in Ohio communities. By securing these funds, we can help families stay in their homes and rebuild their neighborhoods. I urge Bank of America to invest in Ohio.”
Brown released a letter on Friday co-signed by Senator Portman, which outlines how these funds could be allocated to the Ohio communities like Franklinton that have been hit the hardest and are in most need of blight elimination, foreclosure prevention and home rehabilitation programs.
“I would like to thank Senators Brown and Portman for their leadership on this issue in helping us to secure dollars from the Bank of America settlement for Ohio’s distressed communities,” said Jim Rokakis, the Director of the Thriving Communities Institute. “There are critical unmet needs in the areas of demolition, rehabilitation and foreclosure counseling that this settlement can help to address.”
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