Plain Dealer: About 14,000 homeowners in Cuyahoga eligible for foreclosure settlement

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Plain Dealer: About 14,000 homeowners in Cuyahoga eligible for foreclosure settlement

More than 14,000 consumers in Cuyahoga County are eligible for a piece of this month’s $8.5 billion national foreclosure settlement.

But U.S. Sen. Sherrod Brown on Thursday said the settlement, which could mean an average of $2,125 in payments and loan modifications per homeowner, isn’t good enough.

First, it’s not right that banks can pay out these settlements — which were brought on largely by foreclosures that banks pursued improperly – and then take a tax deduction for the amount paid out, said Brown, Democrat of Ohio.

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