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Home > Blogs > Ohio politics > Archives > 2009 > May > 20
Wednesday, May 20, 2009
House OKs foreclosure moratorium
After more than two hours of sometimes heated debate, the House on Wednesday, May 20, approved a six-month moratorium on mortgage foreclosures.
“I think it’s time for us to quit sitting around….The next foreclosure could be your next door neighbor,” said Rep. Clayton Luckie, D-Dayton, a supporter.
To qualify for the moratorium, a borrower would have to make payments each month equal to half of the monthly payment in effect when the foreclosure action was filed.
The bill also requires a $750 filing fee and an accompanying appraisal accompany the filing for a residential foreclosure action.
The bill now goes to the Senate.
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It’s mortgage week: Brown at the White House, Ohio House to vote
Sen. Sherrod Brown will be heading to the White House later today, Wednesday, May 20, to attend the bill-signing ceremonies for two bills aimed at preventing foreclosures. Neat timing: In Columbus this week, the Ohio House is preparing to vote on a bill that would impose a 6-month moratorium on foreclosures.
Brown’s invited to the White House because he chairs the Senate Banking Subcommittee on Economic Policy. He’ll watch President Obama sign the “Helping Families Save Their Homes Act,” which will lower fees for participation in a voluntary program that allows at-risk homeowners to refinance into more affordable mortgages insured by the Federal Housing Administration. That bill will also expand the ability of the FHA and United States Department of Agriculture to modify loans to make them more affordable. Finally, it will increase the number of fair housing field employees that help homeowner avoid foreclosure.
He’ll also watch Obama sign the “Fraud Enforcement and Recovery Act,” which will expand the criminal code to cover previously unregulated mortgage lending business.
Ohio ranks 10th in the country for number of home foreclosures. There are more than 92,000 foreclosure properties in Ohio, with 47,365 new foreclosures this year in the state, according to Brown’s office.
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It’s official: Auditor Taylor running for re-election
Republican Mary Taylor made it official on Wednesday, May 20: she’s seeking re-election as state auditor in 2010.
On the Democratic side, Hamilton County Commissioner David Pepper last week announced his candidacy for auditor.
Taylor, the only Republican statewide executive officeholder, said at a news conference that she had considered seeking the GOP nomination for the U.S. Senate seat being vacated by fellow Republican George Voinovich.
However, Taylor, the first Certified Public Accountant to serve as auditor, said she decided she could best serve the state by continuing as Ohio’s “independent watchdog of taxpayers’ dollars.”
She said GOP leaders did not pressure her to stay out of the U.S. Senate race. Former U.S. Rep. Rob Portman of suburban Cincinnati is the favorite of many party leaders for the nomination but Cleveland-area auto dealer Tom Ganley also is seeking the GOP nomination.
Secretary of State Jennifer Brunner and Lt. Gov. Lee Fisher are vying for the Democratic nomination.
Taylor supporters last week said she had decided to seek re-election and the state party endorsed that effort.
The race is closely watched because the auditor will sit on the five-member Apportionment Board that will draw new state legislative districts based on the 2010 census.
