Tag Archives: HUD Stops Selling to Land Bank in Cleveland

The Department of Housing and Urban Development announced it will no longer be selling foreclosed homes to a land bank for $100 each because it believes the homes could get far more by selling them on the open market, The Plain Dealer reports. HUD’s National First Look Program was an effort to fight neighborhood blight in the city by allowing the Cuyahoga County Land Bank to acquire foreclosed properties and rehab or demolish them. The land bank, formed in 2009, had acquired about 850 properties and rehabbed about one-third of […]