Fast Track Foreclosure 

OHIO FAIR LENDING/VITAL COMMUNITIES COALITION

MAY 18 BROWN BAG LUNCH PROGRAM 

FAST TRACK FORECLOSURES 

CLEVELAND STATE UNIVERSITY - LEVIN COLLEGE

12:00 – 2:00 p.m.

HOUSE BILL 463:  A WOLF IN SHEEP’S CLOTHING?

The purpose of this forum is to update housing and community development practitioners on recent legislative proposals by the banking industry to reform Ohio's mortgage foreclosure process. 

The current bill - Ohio House Bill 463, drafted by attorneys for the lending industry, is being put forth as a means to "fast-track" the foreclosure of abandoned properties, to more quickly move them into the hands of beneficial owners who can bring them back to productive re-use. 

The sponsors of the bill claim they have worked with housing advocates throughout Ohio for the past 18 months to develop this bill.  Yet, many housing advocates, public officials and community development practitioners know very little about the details.  

The bill would fundamentally change the foreclosure process in Ohio; examples include:

• Allow banks to foreclose on an occupied home even when they cannot produce the note and mortgage. 
• Make it easier for irresponsible out of state flippers to buy abandoned homes, by removing the minimum bid requirement.
• Would allow abandoned properties to be sold on-line, without putting the bidders on notice of existing code violations and condemnation orders.

This forum will fill the gap of information on these important proposals, highlight the unintended consequences that could result, and outline more workable alternatives.

When

Wednesday May 18, 2016 from 12:00 PM to 2:00 PM EDT
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Where

Cleveland State Levine College of Urban 
1717 Euclid Ave
Cleveland, OH 44114  

Contact

Charles Bromley 

Organize!Ohio 

216-651-2606 

bromleycharles [at] yahoo [dot] com