No Joke: The Ohio Statutory Exemption is Increasing on April 1st – Is Your Organization Ready?

March 21, 2019      |      Scott D. Fink, Esq.,    David Mullen, Esq.   

Starting April 1, 2019, the value of property exempt from execution, garnishment, attachment, or sale under Ohio Revised Code 2329.66 will increase. This is done every three years, and intended to increase alongside the cost of living....

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An Analysis of Ohio's New Requirements for Private Selling Officers, Junior Lienholders, and Mortgage Servicers

January 17, 2019      |      Larry R. Rothenberg, Esq.   

Ohio House Bills 480 and 489 were among the 32 bills signed into law by Governor Kasich on December 19, 2018. The new laws will take effect 91 days thereafter. H.B. 480 amends certain provisions regarding foreclosure sales by court-authorized private selling officers. H.B. 489 requires a written notice with specified information to be sent to a debtor in default if the debt is secured by a junior lien on residential real property....

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Coming Soon in Ohio: Online Notarizations

December 20, 2018      |      Larry R. Rothenberg, Esq.   

The Ohio legislature has passed Sub. S.B. 263, the Notary Public Modernization Act, for the Governor's signature. The bill will allow a notary public to obtain an electronic seal and electronic signature, and allow document signers to appear before the notary by means of live two-way audio-video communication. Like in-person notarizations, if the notary knows the signer or has satisfactory evidence of the signer's identity (i.e., a government-issued ID with a signature and photograph), the notary will be allowed to apply his or her electronic signature to the document, after the signer signs and gives an oath or affirmation that the statement in the document is true and correct....

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The Dodd-Frank Amendments and the Resurrection of the Protecting Tenants at Foreclosure Act

May 25, 2018      |      Larry R. Rothenberg, Esq.   

On May 24, 2018, President Trump signed into law the Economic Growth, Regulatory Relief, and Consumer Protection Act (the Dodd-Frank Amendments), amending the Dodd-Frank Act. The most widely reported objective of the amendments was to make it easier for banks to lend to creditworthy customers and serve their communities....

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The CFPB is About to Enact New Requirements for Mortgage Servicers – Is Your Organization Prepared?

April 11, 2018      |      Jason K. Wright, Esq.   

On April 19th, changes made by the Consumer Financial Protection Bureau (CFPB) via the Mortgage Servicing Final Rule to Regulation Z will take effect, and mortgage servicers will be required to make changes to the periodic statements or coupon books that they send to borrowers who have filed bankruptcy. Whereas the previous version of Regulation Z contained a blanket exemption to the periodic statement rule for borrowers who have filed bankruptcy, the new rule requires servicers to send periodic statements containing certain bankruptcy-specific modifications....

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Upcoming Changes to National Bankruptcy Plan and Bankruptcy Rules

November 30, 2017      |      Scott D. Fink, Esq.   

Historically, each Bankruptcy Court in the United States has been free to utilize its own version of a Chapter 13 Plan, which has led to a confusing patchwork of different plan forms all around the country. Effective December 1, 2017, however, the use of a new Model Chapter 13 Plan will be required across the U.S.; although each individual district will have the ability to “opt out” and use its own form, so long as it substantially conforms to the Model Plan’s format. Also taking effect on December 1st are certain amendments to the Bankruptcy Rules, which will impact the Chapter 7, 12, and 13 practice and procedures for both consumers and creditors. The following is a summary of the upcoming changes....

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