Alerts

Ohio House Bill 632 (HB 632), currently under review in the House Committee, introduces several proposed reforms that could significantly impact the foreclosure process in Ohio.

Several months ago, shareholder Ben Hoen brought your attention to the case of Foxfield at Naaman's Creek vs. Raechelle Eventoff, in which a property was sold at a sheriff's sale and the proceeds were distributed to the homeowners' association (HOA).

On January 7, 2025, the Consumer Financial Protection Bureau (CFPB) finalized amendments to Regulation V, which implements the Fair Credit Reporting Act (FCRA), titled Prohibition on Creditors and Consumer Reporting Agencies Concerning Medical Information.

On or before October 15th of each year the Ohio Tax Commissioner is required, in accordance with Ohio Revised Code 5703.47, to determine the interest rate for certain taxes and other purposes.

House Bill 1122 passed the Indiana State Congress and will effect changes to Indiana's Dig Law found at IC 8-1-26. The changes are effective as of January 1, 2025.

A recent Ohio court of appeals decision underscores the critical importance of compliance with procedural requirements for issuing proper notices of default in foreclosure proceedings.

A recent court decision from Delaware County, Pennsylvania, could raise concerns for mortgage lien holders. The court found that a homeowners association (HOA) foreclosure could extinguish a first mortgage lien on a property.

Weltman has recently learned that the Consumer Financial Protection Bureau (CFPB) has proposed new rules aimed at providing greater assistance to homeowners before initiating foreclosure proceedings.

The New Jersey Appellate Division recently issued a decision in the matter of Woo-Padva v. Midland Funding, LLC A-1996-21 (BER L-3625-17), finding that there is not a private right to action under the New Jersey Consumer Finance Licensing Act (NJCFLA) for failure of a business to register under the NJCFLA.

On or before October 15th of each year the Ohio Tax Commissioner is required, pursuant to Ohio Revised Code 5703.47, to determine the interest rate for certain taxes and other purposes.