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Ohio Supreme Court Upholds Administrative Foreclosures
By: Associated Press
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CLEVELAND, Ohio (AP) — The Ohio Supreme Court has ruled that a foreclosure process that sells homes without compensating owners for their equity is legal. The Cleveland Plain Dealer reports that administrative foreclosure was found to be legal, however, justices did not agree on its reasoning.
The process sends abandoned properties to the county board of revisions who can send the properties to the local land bank, which can clear debts.
Eye on Ohio previously reported that in Montgomery and Cuyahoga Counties in 2019, local land banks wiped out $11.2 million in tax liens that cost homeowners and banks $77 million in equity.