A federal judge has sided with the city in the vacant housing suit brought by the federal government, reports The Tribune. The issue isn't decided, but there will be no summary judgment on the suit which seeks to exempt hundreds of thousands of Fannie & Freddie-held vacant properties in foreclosure from a new local ordinance that obligates mortgagees to maintain them. The FHFA argues that the city has no legal standing over Fannie & Freddie, and furthermore that imposing extra costs on the lenders would mean taxpayers were footing the bill, nationwide. Now what's wrong with that? The judge seemed more sympathetic to the feds, despite abstaining from judgment. [Trib]
Filed under:
Loading comments...