Ohio House Passes Bill That Would Speed Sheriff’s Sale

Posted by Orb Staff on June 08, 2010 No Comments
Categories : Mortgage Servicing

039;s House of Representatives last week passed a bill that would require servicers to initiate a sheriff's sale within 60 days of a clerk's filing a default judgment, according a report in The Morning Journal. The legislation, [link=http://lsc.state.oh.us/analyses/analysis128.nsf/c68a7e88e02f43a985256dad004e48aa/19eeebf53d0357e085257738004f72e6?OpenDocument]H.B.323[/link], would enable a court to deem foreclosed residential properties abandoned when the plaintiff does not seek a writ of execution as required or a property fails to sell at sheriff's auction three times. The bill would also require the clerk of courts to collect an additional fee of $20 for each foreclosure filing. According to the bill's sponsor, Rep. Dennis Murray, D-Sandusky, the legislation will curb the number of vacant properties in the state. SOURCES: Office of Rep. Dennis Murray, [link=http://www.morningjournal.com/articles/2010/06/05/news/mj2839211.txt ]The Morning Journal

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