Laws & Taxes

Laws & Taxes

Ohio New Markets Tax Credit Program Supports Low-Income Communities

$10 million in tax credits to spur investments in Ohio's low-income communities Columbus, OH - July 2, 2012 - (RealEstateRama) -- The Ohio Department of Development...

Kucinich: Protecting Your Rights

Washington, DC - November 2, 2011 - (RealEstateRama) -- Congressman Dennis Kucinich (D-OH), a longtime advocate for homeowners in Ohio, today released the following statement upon the news that the Office of the Comptroller of the Currency will move forward with a plan to review up to 4 million potentially improper home foreclosures.

Brown Announces $46 M in Tax Credits for Cincinnati Community Revitalization and Affordable Housing...

WASHINGTON, DC - February 24, 2011 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) today announced that $28 million in tax credits were granted to the Cincinnati Development Fund (CDF) and $18,000,000 in tax credits were granted to the Cincinnati New Markets Fund. The tax credits were provided by the U.S. Department of Treasury’s Community Development Financial Institutions (CDFI) Fund New Markets Tax Credit (NMTC) program. NMTC allocations will allow for economic and community development that fosters job growth in the Greater Cincinnati Area.

Ohio Real Estate Agent Sentenced to Two Years in Prison for Mortgage and Tax...

COLUMBUS, OH - November 11, 2010 - (RealEstateRama) -- Todd M. Gongwer, of Columbus, Ohio, was sentenced today to two years in prison for conspiring with convicted Columbus area home builder Thomas Parenteau to commit a mortgage fraud scheme in which the pair defrauded banks into lending more than $10 million to Gongwer, his nominees and unqualified borrowers, the Justice Department announced today. Gongwer was also sentenced for committing tax evasion by using bank accounts of others to hide the income that he earned from ReMax Affiliates from 2000 through 2005

Court Affirms Cordray’s Case Against Loan Servicer

COLUMBUS, OH - September 17, 2010 - (RealEstateRama) -- Ohio Attorney General Richard Cordray’s lawsuit against Barclays Capital Real Estate dba HomEq Servicing, headquartered in New York City, just took a legal step forward with a recent decision by a state court.

OHFA awards over $19M in tax credits for affordable housing in Ohio

COLUMBUS, OH - July 1, 2010 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) today announced the 2010 Housing Tax Credit Program recipients who will each receive a portion $19.2 million in housing tax credits for the acquisition, development and rehabilitation of affordable housing units in Ohio.

OHFA Board approves $22M for affordable housing opportunities in the state

COLUMBUS, OH - April 21, 2010 - (RealEstateRama) -- Today the Ohio Housing Finance Agency (OHFA) Board approved over $9.3 million of Tax Credit Exchange (TCE) and Tax Credit Assistance Program (TCAP) dollars created in the American Recovery and Reinvestment Act (ARRA), together with more than $4.1 million from OHFA’s Housing Development Assistance Program (HDAP) and $9.1 million from the Neighborhood Stabilization Program (NSP).

CABOR is Ready to Help Homebuyers with April 30th Tax Credit Countdown Concerns

Cleveland, OH - March 25, 2010 - (RealEstateRama) -- With 3,800 members strong, the Cleveland Area Board of REALTORSR (CABOR) is poised and ready to help homebuyers take advantage of federal tax credits worth up to $8,000 for first-time buyers and $6,500 for repeat buyers. CABOR members are making sure house hunters have what they need to close a deal

Cleveland Area Board of REALTORS (CABOR) to Celebrate First Nationwide Open House Weekend April...

Cleveland, OH - March 11, 2010 - (RealEstateRama) -- CABOR will join REALTORR organizations across the country to celebrate the first-ever REALTORR Nationwide Open House weekend on April 10 and 11, 2010. According to Chairman of the Board of Directors for CABOR, George J. Pofok, CCIM, SIOR, the purpose of the countrywide campaign is to increase awareness of the benefits of buying a home, give sellers an opportunity to increase exposure of their home for sale and spread the word about the expanded first-time homebuyer tax credit, which ends April 30, 201

Ohio Treasury Partners With U.S. Bank To Help Ohioans Conserve Energy And Lower Utility...

Cincinnati, OH - February 19, 2010 - (RealEstateRama) -- The Ohio Treasury announced that it will partner with U.S. Bank to offer the Energy Conservation for Ohioans (ECO-LINK) program to help Ohioans save money as they make their homes more energy efficient.

Investigation by Federal, State and Local Task Force Leads to Mortgage Fraud Charges Against...

CINCINNATI, OH - January 29, 2010 - (RealEstateRama) -- A two-year investigation by the Greater Cincinnati Mortgage Fraud Task Force has resulted in a seven-count indictment charging two Cincinnati area home builders, a former Huntington National Bank vice president, and a self-employed tax preparer and interior designer with participating in a mortgage fraud scheme to sell four high-end luxury properties to “straw buyers.”

Four Sentenced for Mortgage Fraud Scheme

DAYTON, OH - January 22, 2010 - (RealEstateRama) -- Four participants in an extensive mortgage fraud scheme that affected 210 residential properties including 205 in Montgomery County were sentenced today in federal court by U.S. District Judge Michael R. Barrett.

Columbus Accountant and Realtor Plead Guilty to Mortgage Fraud and Obstruction of Justice Conspiracies

WASHINGTON, DC - January 21, 2010 - (RealEstateRama) -- Dennis G. Sartain of Hilliard, Ohio; and Bonnie Helt, of Columbus, Ohio, pleaded guilty today to conspiring to commit mortgage fraud, money laundering and obstruction of justice, the Justice Department and Internal Revenue Service (IRS)

OHFA Board approves more than $53M for property restoration and neighborhood regeneration

COLUMBUS, OH - January 20, 2010 - (RealEstateRama) -- Today the Ohio Housing Finance Agency (OHFA) Board approved over $49 million of Tax Credit Exchange (TCE) and Tax Credit Assistance Program (TCAP) dollars created in the American Recovery and Reinvestment Act (ARRA) together with more than $4 million from OHFA’s Housing Development Assistance Program (HDAP).

Seven Indicted in Mortgage Fraud Scheme

CINCINNATI, OH - January 14, 2010 - (RealEstateRama) -- A federal grand jury here has indicted six members of a family and one of their employees charging them with operating a mortgage fraud conspiracy between 2004 and 2009.

Sen. Brown, Columbus Housing Partnership Cite First-Time Homebuyers Tax Credit Extension As Key To...

COLUMBUS, OH - November 16, 2009 - (RealEstateRama) -- At the soon-to-be new home of Mike Decker and Katie Arends, who used the first-time homebuyer federal tax credit to build their first house, U.S. Sen. Sherrod Brown (D-OH) today discussed how the newly extended federal tax credit can help other Columbus community members purchase new homes.

Federal stimulus funding breathes new life into statewide affordable housing initiatives

COLUMBUS, OH - November 6, 2009 - (RealEstateRama) -- Funding made possible through the American Recovery and Reinvestment Act (ARRA) will support the creation of over 750 units of new affordable housing in 17 Ohio communities.

Boccieri Says Tax Credit for Homebuyers Will Continue

WASHINGTON, DC - November 6, 2009 - (RealEstateRama) -- Upon passage today of legislation to extend the first-time homebuyers tax credit, and expand the hombuyers tax credit to all homeowners buying new primary residences, U.S. Congressman John Boccieri (D-Alliance) today issued the following statement:

Brown Announces Support for Bill to Extend Unemployment Benefits and Expand Homebuyer Tax Credit

WASHINGTON, D.C. - November 2, 2009 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) announced his support for a bill that would provide for an extension of emergency benefits to unemployed workers and expand the homebuyer tax credit.

The Ohio Housing Finance Agency releases 2010 housing tax credit application guidelines

COLUMBUS, OH - October 21, 2009 - (RealEstateRama) -- Today, the Ohio Housing Finance Agency (OHFA) released the 2010 Qualified Allocation Plan (QAP) that guides the development of affordable housing throughout the state.

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Affordable Housing Out Of Reach for Low-Income Families in Ohio

Report Demonstrates Need To Expand Ohio Housing Trust Fund WASHINGTON, D.C. - (RealEstateRama) -- Ohioans need to earn at least $14.45 an hour in order...

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Congressman Tim Ryan Announces $245,000 for Tech Belt Energy Innovation Center...

Congressman Tim Ryan today announced a $245,000 grant from the Appalachian Regional Commission (ARC) to the Tech Belt Energy Innovation Center (TBEIC) in Warren, Ohio. The grant will be used to match funds provided by the State of Ohio to build out the technical capabilities in TBEIC’s Shared Resources Center