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Home > Blogs > Ohio politics > Archives > 2009 > May > 20 > Entry
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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By bobby
May 21, 2009 11:08 AM | Link to this
suebee, The $750 fee is paid by the plantiff in the foreclosure action. The appraisal is redundant as the property is appraised by the sheriff before sale. More costs are passed on to the lender, not the borrower.By suebee
May 21, 2009 9:33 AM | Link to this
Oh c’mon now—a $750 filing fee when it could be applied to a house payment. You’ve got to be kidding. This in no way is helping unemployed families stay in their homes. Somehow I knew what started out as a good idea would get screwed up-leave it to our elected officials—sure didn’t boost my lack of faith in them.