Laws & Taxes

Laws & Taxes

First-Time Homebuyer Tax Credit For Military Members Serving Overseas Could Have Significant Impact On...

WASHINGTON, DC - October 13, 2009 - (RealEstateRama) -- Representative Marcia L. Fudge (OH-11) applauded legislation that grants a one-year extension of the first-time homebuyer tax credit for members of the Armed Forces who served overseas in 2009.

Kilroy Supports Measure to Extend Tax Credit for Military Homebuyers

WASHINGTON, DC - October 13, 2009 - (RealEstateRama) -- U.S. Rep. Mary Jo Kilroy voted to amend the home-buying provisions in the American Recovery and Reinvestment Act to benefit active-duty service members and other federal employees.

Brown Announces Support For New Bill Extending Tax Credit For First-Time Homebuyers

WASHINGTON, D.C. - October 14, 2009 - (RealEstateRama) -- A tax credit that has helped more than 48,000 Ohio families purchase their first homes will expire on Dec. 1 unless Congress passes an extension.

Cleveland Area Board of Realtors (CABOR) Endorses Issue 6 for a New Charter of...

Cleveland, OH - October 1, 2009 - (RealEstateRama) -- The Cleveland Area Board of Realtors (CABOR) announced its support for Issue 6 on the November 3rd ballot. The Board of Directors for the 4,500 member non-profit organization voted on Thursday, September 24, 2009 to endorse the reform effort

Columbus Man Pleads Guilty to Money Laundering in Connection with Mortgage Fraud Scheme

COLUMBUS, OH - September 14, 2009 - (RealEstateRama) -- Charles E. Townsend, 39, of Columbus pleaded guilty in United States District Court here to one count of money laundering in connection with his involvement in a mortgage fraud scheme that exaggerated property values to out of state investors in order to secure funding for the purchase of properties in primarily low income neighborhoods in Columbus.

Now is the time to make the leap to homeownership

COLUMBUS, OH - August 31, 2009 - (RealEstateRama) -- As a potential homebuyer, you have an incredible opportunity to qualify for the federal first-time homebuyer tax credit of up to $8,000.

Sixth and Final Conspirator Enters Guilty Plea in Mortgage Fraud Scheme

CINCINNATI, OH - July 29, 2009 - (RealEstateRama) -- Jessica A. Zbacnik, 42, of Monroe, pleaded guilty in United States District Court here for her role in an extensive mortgage fraud scheme that affected 210 residential properties, including 205 in Montgomery County.

Three Charged in Mortgage Fraud Scheme

DAYTON, OH - July 15, 2009 - (RealEstateRama) -- A federal grand jury here has indicted a Waynesville couple, Gregory S. Chew, 41, and Peggy Pierson, age 46, along with Richard Confer Jr., age 42, of West Carrollton, charging the trio for their roles in a mortgage fraud scheme involving multiple counts, including money laundering, structuring financial transactions, conspiracy to launder money, mail fraud, and wire fraud.

OHFA awards over $26 million in tax credits for affordable housing in Ohio

COLUMBUS, OH - July 2, 2009 - (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) today announced the 2009 Housing Tax Credit Program recipients who will each receive a portion of more han $26 million in housing tax credits for the acquisition, development and rehabilitation of affordable housing units in Ohio.

Ohio Man Charged in Mortgage Fraud Scheme

Cleveland, OH - June 23, 2009 - (RealEstateRama) - William J. Edwards, United States Attorney for the Northern District of Ohio, announced today that an information has been filed against Paul R. Tomko charging him with one count of mail fraud in connection with mortgage loans that were obtained fraudulently. According to court records, Tomko, age 36, resides in Middleburg Heights, Ohio.

Center for Responsible Lending Introduces New Loan Subsidiary

Rumpelstiltskin Lending, LLC to Offer Short-Term Credit Product. Washington D.C.-Columbus, OH - June 10, 2009 - (RealEstateRama) — The Center for Responsible Lending (CRL) today proudly introduced a direct competitor to payday loans -- the short-term, small denomination loans Americans have been successfully using for nearly twenty years. The product, to be called "The Rumpelstiltskin Loan" allows consumers to borrow up to $1,000 for a period of two weeks, with interest rates at a fixed 36% APR. The product's pilot program will roll out in Ohio this month.

Lundy Bill To Kill Ohioan’s Credit Options

Columbus, OH – June 3, 2009 – (RealEstateRama) - Flanked by those who would limit consumer credit choice, Rep. Matt Lundy (D-Elyria) today unveiled...

Payday “Loophole Lending” Fix Introduced in Ohio House

COLUMBUS, OH - June 2, 2009 - (RealEstateRama) — Flanked by lending reform advocates, Rep. Matt Lundy (D-Elyria) today unveiled his much-anticipated fix to close loopholes in the law that are currently allowing payday lenders to charge up to 680 percent APR.

Two Ohio Organizations Awarded Millions in New Markets Tax Credits

WASHINGTON, D.C. - May 28, 2009 - (RealEstateRama) — U.S. Sen. Sherrod Brown (D-OH) today announced that two Cleveland-based organizations will be awarded an aggregate $85 million through the New Markets Tax Credit (NMTC) Program. The funds, made available through the American Recovery and Reinvestment Act, will support the existing tax credit program that works to create and save jobs, and develop real estate and business projects in both rural and urban distressed communities.

OHFA one of first to receive funding from HUD and the Treasury Department for...

COLUMBUS, OH - May 26, 2009 - (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) was recently among the first to be awarded funding from the U.S. Department of Housing and Urban Development (HUD) and the U.S. Department of Treasury under programs created through the American Recovery and Reinvestment Act (ARRA).

Brown to Attend White House Signing Ceremony of Bills Aimed at Preventing Foreclosure and...

WASHINGTON, D.C. - May 20, 2009 - (RealEstateRama) — U.S. Sen. Sherrod Brown (D-OH), Chairman of the Senate Banking Subcommittee on Economic Policy, will attend the White House signing ceremony today of two bills aimed at preventing foreclosures and protecting Ohioans from mortgage fraud. Brown has been an outspoken advocate for federal legislation that makes it easier for homeowners to hold onto their homes by refinancing into more affordable mortgages.

Three Ohio Residents Plead Guilty to Conspiracy to Commit Bank Fraud for Fraudulent Real...

WASHINGTON - May 4, 2009 - (RealEstateRama) — Todd Gongwer of Dublin, Ohio; Lance Parker of Dublin, Ohio; and Joel Lee, of Galena, Ohio, pleaded guilty today to conspiracy to commit bank fraud, the Justice Department and Internal Revenue Service (IRS) announced. Gongwer, a licensed real estate agent, also pleaded guilty to tax evasion in the hearing before Judge Michael H. Watson in Columbus, Ohio. Parker also pleaded guilty to illegally structuring cash transactions.

OHFA AWARDS MORE THAN $950,000 IN ADDITIONAL FEDERAL FUNDING TO AFFORDABLE HOUSING DEVELOPMENTS

Nearly $1 million of Federal Housing Tax Credits were awarded by the Ohio Housing Finance Agency to nine developments as part of allocations from the Housing and Economic Recovery Act. COLUMBUS, OH - May 1, 2009 - (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) today awarded nine affordable housing developments additional federal Housing Tax Credits through a provision included in the Housing and Economic Recovery Act (HERA). Passed in July 2008, the HERA provided OHFA with the ability to award extra tax credits for properties that received funding in 2008 and are ready to begin construction this year.

OHFA awards more than $800,000 in additional federal funding to affordable housing developmemnts

COLUMBUS, OH - April 30, 2009 - (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) today awarded seven affordable housing developments additional federal Housing Tax Credits through a provision included in the Housing and Economic Recovery Act (HERA).

New OHFA program maximizes tax credit for homebuyers

COLUMBUS, OH - March 26, 2009 - (RealEstateRama) — The Ohio Housing Finance Agency (OHFA) today announced that they will launch their new Homebuyer Tax Credit Advantage Program on Monday, March 30. The program will allow qualified homebuyers to receive help with down payment and closing costs.

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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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Brown Urges VA Secretary to Protect Funding For Homeless Veterans

U.S. Senator Sherrod Brown (D-OH) joined Sen. Richard Blumenthal (D-CT) in a letter to U.S. Department of Veterans Affairs (VA) Secretary David Shulkin urging him to fully reverse a plan to shift funding for VA programs that support homeless veterans. Earlier this month, the VA announced its intent to redirect the funding into a larger pool used by local VA hospitals at their discretion, risking a misuse of funds intended for homeless veterans.