Ohio RealEstateRama

WASHINGTON, D.C. - February 2, 2011 - (RealEstateRama) -- Following pressure from U.S. Sen. Sherrod Brown (D-OH), the Federal Reserve Board announced that it would maintain critical protections for homeowners outlined in the Truth in Lending Act (TILA). In January, Brown and five of his Senate Banking Committee colleagues urged the Federal Reserve to reconsider proposed rules that would eliminate the ability of homeowners to stop foreclosures and rescind predatory home loans.

CLEVELAND, OH - January 19, 2011 - (RealEstateRama) -- County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General's Office and Ohio's Organized Crime Investigations Commission announced that Jeffrey St. Martin was sentenced to six years in prison. He was ordered to pay $3,089,750 in restitution and $30,000 in forfeiture

WASHINGTON, D.C. - January 4, 2011 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) and five of his Senate Banking Committee colleagues urged the Federal Reserve to reconsider proposed rules that would eliminate the ability of homeowners to stop foreclosures and rescind predatory home loans. The proposed rule would prevent homeowners from cancelling mortgages that violate the Truth in Lending Act

COLUMBUS, OH - December 29, 2010 - (RealEstateRama) -- In a letter sent today to Ohio judges, Attorney General Richard Cordray has requested that the state courts continue to pay close attention to foreclosure cases that may have affidavits signed by robo-signers. In support of continued vigilance, Cordray highlights several courts that have taken action to address the situation."In tracking these cases throughout the state, we have found that judges are finding different ways to handle them," said Cordray.

CLEVELAND, OH - December 28, 2010 - (RealEstateRama) -- Two former members of the Cuyahoga County Board of Revision were indicted today as a result of a joint criminal investigation by the Cuyahoga County Sheriff's Office and the Ohio Bureau of Criminal Identification and Investigation.Keith Headen, 52, Solon, is charged with one count of tampering with records, a third-degree felony. Headen is accused of altering a worksheet and journal entry in an attempt to reduce the valuation of a particular residential property. The board had rejected the property owner's request to reduce his property value by $31,000. But following the board hearing, Headen allegedly altered the documents to make it appear as though the board approved the property owner's request.

COLUMBUS, OH - December 23, 2010 - (RealEstateRama) -- In a letter sent today to the Federal Reserve's Board of Governors, Ohio Attorney General Richard Cordray urged the Fed to maintain existing protection for homeowners who currently have the right to undo loan agreements where material disclosures were not made, in violation of the law. The existing provisions that protect a consumer's right to rescind such loan agreements – including mortgage loan agreements – could be greatly weakened through a proposed rule now under consideration by the central bank

COLUMBUS, OH - December 16, 2010 - (RealEstateRama) -- As Ohioans recover from the season’s first winter storm, Ohio Department of Insurance Director Mary Jo Hudson is reminding them that property damage caused by snow, freezing rain, and cold temperatures can be avoided if they take a few easy steps to protect their homes and vehicles.Routine maintenance can also help consumers avoid claims on their homeowner and/or auto policies, helping to keep premiums down and save money.

Washington, DC - December 16, 2010 - (RealEstateRama) -- House Speaker-designate John Boehner (R-West Chester) issued the following statement in response to a report released by the Republican commissioners on the Financial Crisis Inquiry Commission (FCIC) regarding the causes of the financial crisis:

LIMA, OH - December 10, 2010 - (RealEstateRama) -- The Ohio Attorney General's Charitable Law section is seeking input from members of the public who have donated to a well-known Lima veterans' charity.Last week, as a result of a lawsuit filed by Attorney General Richard Cordray, Michael Muhammad was ordered to stop soliciting contributions for his nonprofit organizations, Help Homeless Veterans Inc and Veterans Hope Community House Inc. The Attorney General's Office also sought and obtained a court order to shut down Muhammad's "veterans' shelter" at 616 W. Elm St., Lima.

LIMA, OH - December 3, 2010 - (RealEstateRama) -- Many Lima residents are familiar with the sight of Michael Muhammad sitting in front of the local post office soliciting donations to assist veterans. Today, Ohio Attorney General Richard Cordray filed a lawsuit in Allen County seeking to shut down Muhammad's nonprofit organizations and the homeless shelter he claims to operate for the benefit of veterans."This is a bad situation on several levels," said Attorney General Cordray. "The conditions inside this home are appalling and hazardous to the residents. Standing water in the basement, exposed electrical wires, rotting carpet, unsafe bathroom facilities and roaches, mice and rats – the place is a mess and we need to shut it down.

COLUMBUS, OH - November 30, 2010 - (RealEstateRama) -- Ohio Department of Insurance Director Mary Jo Hudson has announced that on average Ohioans paid slightly more for homeowners insurance in 2008 than in 2007. Ohio’s homeowners insurance premiums are the 9th lowest in the country. The news comes based on a report issued by the National Association of Insurance Commissioners (NAIC).

November 24, 2010 - (RealEstateRama) -- The announcement that more than $20 million in Ohio Housing Trust Fund grant awards will soon be headed to 76 homeless services agencies in 34 counties came as very good news to Bill Faith, executive director of the Coalition on Homelessness and Housing in Ohio (COHHIO). “Many of our shelter member organizations are reporting record-level volume – especially among families,” he said. “These funds come at a time when communities need them most. It shows what a valuable resource the Ohio Housing Trust Fund is to Ohio.”

COLUMBUS, OH - November 19, 2010 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) Board yesterday approved a grant for $160,000 for the Ohio CDC Association, a statewide trade association of nonprofit community development corporations. The grant will allow the Ohio CDC Association to implement an affordable housing needs assessment in the Appalachian region of the state.

COLUMBUS, OH - November 19, 2010 - (RealEstateRama) -- Community nonprofit organizations throughout Ohio will receive a financial boost from Ohio Attorney General Richard Cordray. More than $200,000 will be infused into 29 programs that help senior citizens, the homeless, children and mentally ill Ohioans. The grants are funded through fines collected by the Attorney General's Office for bingo violations."When every dime counts, even a small grant can have a significant impact on a community," said Cordray. "The programs chosen to receive these grants will benefit thousands of Ohioans through innovative projects designed to address both physical and mental health needs."

WASHINGTON, D.C. - November 17, 2010 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) attended a hearing of the U.S. Senate Committee on Banking, Housing, and Urban Affairs today entitled ‘Problems in Mortgage Servicing from Modification to Foreclosure.’ The hearing examined the role that the nation’s largest banks have played in exacerbating the foreclosure crisis in Ohio. Yesterday, the Government Accountability Office (GAO) released a report requested by Brown on the practice of "abandoned foreclosures," also commonly referred to as "bank walkaways."

WASHINGTON, DC - November 15, 2010 - (RealEstateRama) -- Today, the Government Accountability Office (GAO) released a report requested by U.S. Senator Sherrod Brown, Chairman of the Economic Policy Subcommittee of the Senate Committee on Banking, Housing, and Urban Affairs, on the practice of "abandoned foreclosures," also commonly referred to as "bank walkaways." This is the practice whereby banks decline to take possession of properties after initiating the foreclosure process, most often because the costs — from legal fees to maintenance — exceed the value of the real estate

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

COLUMBUS, OH - October 29, 2010 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) attended a forum today with African American Ministers at Second Baptist Church in Columbus. Brown was joined by Ohio Attorney General Richard Cordray. Rev. Howard T. Washington hosted the forum, which focused on education, healthcare, housing, the economy, and other issues important to Southwest Ohio

CLEVELAND, OH - October 28, 2010 - (RealEstateRama) -- Citing false statements and documented fraud, Ohio Attorney General Richard Cordray today weighed in on a GMAC foreclosure case that threatens to oust a Parma man and his family from their home. Cordray filed a friend-of-the-court brief in the Cuyahoga County Common Pleas Court foreclosure proceeding and asked the court to consider evidence that GMAC committed fraud that tainted the entire judicial process.Cordray said that although it is unusual for his office to get involved in an individual foreclosure case, the potential use of fraudulent documents in this case prompted him to file the brief

COLUMBUS, OH - October 25, 2010 - (RealEstateRama) -- Ohioans struggling to save their homes from foreclosure are now the targets of a new scam surfacing on the Internet. Website ads are popping up from companies pretending to be associated with the government foreclosure prevention initiative Save the Dream Ohio, Attorney General Richard Cordray warned today in conjunction with the Ohio Department of Commerce and the Ohio Housing Finance Agency."The ads are actually from for-profit companies that are attempting to exploit the Save the Dream name," said Cordray. "Ohio homeowners need to be wary of advertisements that promote an association with the free program. Save the Dream Ohio, under no circumstances, will ever require a fee for assistance and will not be associated with any company that has such a requirement.