New Law Speeds Up Foreclosure Process
A new Ohio law is being viewed as a national model for eliminating vacant nuisance properties.
The law taking effect Wednesday speeds up the process for foreclosing on vacant and abandoned properties, which dot several neighborhoods in Columbus and the state’s other metro areas.
The bill signed by Governor John Kasich over the summer was at least three years in the making, and could cut foreclosure proceedings from two years to as little as six months. It’s based on a series of issues typically seen in abandoned homes, like disconnected utilities and boarded-up windows.
The new law says three of those factors have to be present before a foreclosure can start.