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Committee adopts amendment modernizing foreclosure advertising, proponents say changes aid sales and neighborhoods
Summary
The Senate Judiciary Committee adopted an amendment to Senate Bill 135 on Wednesday that proponents said would modernize Ohio's foreclosure process by clarifying private selling officers' duties, updating conflict-of-interest language and allowing online foreclosure advertising.
The Senate Judiciary Committee adopted an amendment to Senate Bill 135 on Wednesday that proponents said would modernize Ohio's foreclosure process by clarifying private selling officers' (PSO) duties, adjusting conflict-of-interest provisions and allowing online as well as print advertising for sheriff and PSO sales.
Vice Chair Reynolds moved to adopt Amendment 4506-2; the committee adopted it without objection. Committee staff and witnesses said the amendment resulted from months of negotiations with stakeholders including the Ohio Auctioneers Association, Ohio Association of Realtors, the Ohio Bankers League, the Ohio Mortgage Bankers and…
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