Yearly Archives: 2011

CLEVELAND, OH - July 26, 2011 - (RealEstateRama) -- In the wake of reports that banks and mortgage processors have continued a practice known as “robo-signing”—forging signatures and submitting false affidavits—U.S. Sen. Sherrod Brown (D-OH) held a news conference in Cleveland today to call for renewed federal efforts to crackdown on this risky, illegal practice that undermines Ohio’s housing market. This unlawful act has forced thousands of homeowners into foreclosure and raised doubts about the ownership of hundreds of thousands of mortgages. Recently, both the Associated Press and Reuters reported that despite regulators’ assurances to the contrary, illegal robo-signing allegedly remains rampant in both foreclosure and non-foreclosure cases. The reports also suggest that some regulators are aware of these violations.

WASHINGTON, D.C. - July 26, 2011 - (RealEstateRama) -- U.S. Senator Sherrod Brown (D-OH) today announced that Mental Health Services for Homeless Persons, Inc. in Cleveland has received federal resources to prevent homelessness among at-risk Cuyahoga County Veterans. The funds were made available through the U.S. Department of Veterans Affairs’ (VA) Supportive Services for Veteran Families (SSVF) Program to prevent homelessness among at-risk Cuyahoga County Veterans

WASHINGTON, D.C. - July 21, 2011 - (RealEstateRama) -- In the wake of reports that banks and mortgage processors have continued forging signatures and submitting false affidavits, U.S. Sen. Sherrod Brown (D-OH) wrote to federal regulators urging them to better protect consumers by publicly releasing information related to their settlements with 14 mortgage servicers in order to prevent further illegal practices. Also known as robo-signing, this unlawful act has forced thousands of homeowners into foreclosure and raised doubts about the ownership of hundreds of thousands of mortgages. Brown is chairman of the Senate Banking Subcommittee on Financial Institutions and Consumer Protection.

Washington, DC - July 19, 2011 - (RealEstateRama) -- Congressman Mike Turner, Co-Chair of the Congressional Historic Preservation Caucus, has introduced legislation to encourage homeowners to preserve homes of historical significance across the country. The Historic Homeownership Revitalization Act (H.R. 2555) extends the tax credit currently in effect for commercial property owners to families living in historic homes. This legislation encourages the maintenance and rehabilitation of buildings which exemplify the culture and heritage of our communities. Furthermore, the Act incentivizes new construction on historic buildings; creating jobs.

CLEVELAND, OH - July 13, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced a lawsuit against foreclosure rescue company Diversified Real Estate Consultants LLC (DREC), its affiliates, and its owner for multiple violations of Ohio consumer laws."This company continually misled consumers," Attorney General DeWine said. "It charged substantial upfront fees for services and results that it promised but never delivered. It also encouraged homeowners to default on their mortgage loans, falsely stating that defaulting on their loans would help them get a loan modification. Such statements are completely false and caused homeowners to risk losing their homes."

COLUMBUS, OH - July 8, 2011 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) was recently selected by the U.S. Department of Housing and Urban Development (HUD) to serve as the Project Based Contract Administrator (PBCA) for Section 8 projects in the state of Ohio. As the PBCA, OHFA will manage 977 Housing Assistance Payment (HAP) contracts covering over 70,000 units throughout the state. OHFA will assume its role as PBCA on October 1.

WASHINGTON, D.C. - July 7, 2011 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) today announced new relief for unemployed Ohioans facing foreclosure. Changes announced today to Federal Housing Administration (FHA) requirements and the Making Home Affordable Program (MHA) would extend the timeline and remove hurdles for unemployed Ohioans to qualify for foreclosure

COLUMBUS, OH - June 17, 2011 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) has been awarded $1,461,561 to continue supporting the availability of foreclosure counseling and prevention services across the state.

CLEVELAND, OH - June 16, 2011 - (RealEstateRama) --The Ohio Civil Rights Commission (OCRC) and Ohio Attorney General Mike DeWine today announced the settlement of a discrimination claim against the developers, designers, owners, and builders of Stonebridge Waterfront Apartments, Stonebridge Towers and Stonebridge Plaza (collectively, Stonebridge properties) located in Cleveland, Ohio.

COLUMBUS, OH - June 9, 2011 - (RealEstateRama) -- Homeownership is a rewarding and worthwhile investment. With reduced home prices and competitive mortgage rates, this is an excellent time to celebrate the affordable housing options available to Ohioans. Governor John Kasich proclaimed June as Homeownership Month, highlighting the impact of homeownership on Ohio's economy and communities.

WASHINGTON, D.C. - June 9, 2011 - (RealEstateRama) -- U.S. Sen. Sherrod Brown (D-OH) today announced that $229,140 has been awarded to the Neighborhood Housing Services of Greater Cleveland, Inc. to provide foreclosure counseling to local families. The National Foreclosure Mitigation Counseling Program funds are awarded on a competitive basis to help prevent foreclosures

COLUMBUS, OH - June 3, 2011 - (RealEstateRama) -- An amendment to the Senate’s version of the budget bill released yesterday would take millions from a fund that provides housing for poor, elderly and disabled Ohioans, and funnel it to county recorders offices for “general purposes.”

DAYTON, OH - June 1, 2011 - (RealEstateRama) -- As part of National NeighborWorks Week (June 5-11, 2011), St. Mary Development Corporation has updated its searchable affordable housing database to include Hamilton, Brown and Clermont counties. The database already included eight Ohio counties: Butler, Clark, Darke, Greene, Miami, Montgomery, Preble and Warren.

COLUMBUS, OH - May 26, 2011 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) is partnering with The Ohio State University (OSU) to launch the Homeownership Investment Program. The program will provide additional support for OHFA homeowners before and after they purchase their home, to increase their mortgage sustainability and overall financial well-being. The new program will enhance the streamlined homebuyer education currently offered by the Agency in conjunction with OHFA's successful affordable mortgage program for first-time homebuyers.

COLUMBUS, OH - May 20, 2011 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) Board yesterday approved $2.6 million in funding through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).

COLUMBUS, OH - May 20, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine and Ohio Department of Commerce Director David Goodman today announced an assurance of voluntary compliance (AVC) with Carrington Mortgage Services, LLC to resolve a 2009 lawsuit and to provide relief to Ohio homeowners facing foreclosure."This agreement will help Ohioans obtain affordable modifications to allow them to stay in their homes," Attorney General DeWine said. "We are pleased that Carrington Mortgage Services has worked with our Office and is committed to helping Ohio homeowners avoid foreclosure."

CLEVELAND, OH - May 10, 2011 - (RealEstateRama) -- Ohio Attorney General Mike DeWine today announced his office has filed a lawsuit against The Modification Group LLC (TMG), a Cleveland business that offered to help homeowners avoid foreclosure in exchange for $1,995 or more. The lawsuit alleges multiple violations of Ohio consumer law, including failure to deliver.“We have received dozens of complaints against The Modification Group,” Attorney General DeWine said

COLUMBUS, OH - April 22, 2011 - (RealEstateRama) -- The Ohio Housing Finance Agency (OHFA) Board approved $1.9 million in funding through the Housing Development Assistance Program (HDAP) to provide flexible, low-interest financing for affordable housing developments on Wednesday. Funding for HDAP comes from the federal HOME program and the Ohio Housing Trust Fund (OHTF).

CLEVELAND, OH - April 15, 2011 - (RealEstateRama) -- County Prosecutor Bill Mason and the Cuyahoga County Mortgage Fraud Task Force operating under authorization of Ohio Attorney General and Ohio's Organized Crime Investigations Commission announced indictments against Takara Madkins, and her company, D. & T. Investments, Inc. Others indicted were Jerrall Collier and Darrick Ceasor, and his company, Dee Cee Supply. All the homes fell into either tax or mortgage foreclosure, leaving a current tax delinquency amount of $30,349.15 owed to the county

WASHINGTON, D.C. - April 14, 2011 - (RealEstateRama) -- In the wake of a settlement between 14 U.S. mortgage servicers and foreclosed homeowners, U.S. Sen. Sherrod Brown (D-OH) introduced landmark legislation to prevent future servicer fraud and errors, improve foreclosure counseling and prevention, and reform oversight of mortgage-based investing.