A new bill being prepared for consideration by the Ohio legislature seeks to prevent senior homeowners from being foreclosed upon due to delinquent property taxes.
State Reps. David Thomas (R-Jefferson) and Adam Mathews (R-Lebanon) introduced the Senior Protection from Foreclosure Act, which they promote as the first legislation of its kind in the nation. The bill declares that properties valued below $750,000 that are owner occupied with an owner who is at least 65 and making some form of payment cannot be foreclosed on, regardless of the delinquency amount.
“This bill very simply states that if you are a senior and are making some form of payment, you will not be foreclosed on in Ohio,” said Thomas. “Right now, County Treasurers do everything possible to prevent foreclosure, but I cannot look at a struggling elderly individual presently and say she cannot be foreclosed on, after this bill we can confidently say that.”
“We have heard from our constituents, calling with real fear of being taxed out of their homes,” said Mathews. “I’m grateful to be working with Rep. Thomas to codify the informal kindness courts and treasurers often show, to ensure people are confident in their piece of the American Dream.”
The bill awaits a number and committee assignment.
What about continuing substantial high-maintenance Hoa fees per year, and taxes, considering, the circumstances surrounding the recent NJ legislation bill 2670, and a reserve study vendor managing the new bill regarding the deletion or reduction of the community capital reserves in a condominium setting, nationwide, where you cannot even file for a reduction off your taxes concerning a high Maintenace fees with low income senior hardship situation position concerning the coporate mis -management conduct in the 5 years. Is there any relief regarding this situation? What about the ongoing substantially high-maintenance HOA fees each year and taxes, especially considering the recent New Jersey legislation, Bill 2670? This bill involves a reserve study vendor managing the new guidelines regarding the deletion or reduction of community capital reserves in condominium settings nationwide. Moreover, individuals cannot apply for a tax reduction due to high maintenance fees, especially in situations of low income and senior hardship, particularly in light of five years of corporate mismanagement. Is there any relief available regarding this situation?
This kind of legislation can be a double edged sword. I doesn’t sound like there is any forgiveness of the tax so it will just accumulate along with the interest and late fees and then once the individual is no longer occupying the property. The State will foreclose on it. If there is a loan on the property the lender has the right to pay the taxes and then foreclose on the loan and it wouldn’t be fair to the lender otherwise. If the lender isn’t protected then lender will just quit lender in OH.