WXYZ - Oakland County is suing Fannie Mae and Freddie Mac for more than a million dollars.
Oakland County leaders say the two mortgage giants played a part in the foreclosure crisis hitting our area, and then didn’t pay the county what it was owed.
A lawsuit filed Monday in U.S. District Court for the Eastern District of Michigan says the two lenders failed to pay real estate transfer taxes. These taxes cover the cost of recording documents with the county.
Oakland County Treasurer Andy Meisner and the county’s lawyers have scheduled a press conference for Thursday afternoon to discuss the lawsuit.
They say this may be just the beginning of trouble for the two lenders in Michigan. It is possible the two lenders owe millions more to the state.
Fannie Mae and Freddie Mac have not issued any response just yet.
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