The Ohio House of representatives has passed a moratorium on foreclosures, The Columbus Dispatch reports.
House Bill 3 will place a six-month moratorium on foreclosures, under certain conditions.
Although actual foreclosure filings were down this month, experts were reporting that the number of new foreclosure proceedings that began increased. In other words, it was gonna be a bad summer for real estate agents.
In the first quarter of this year, Ohio ranked 11th in home foreclosures.
You know when would have been a good time to do this moratorium thing? About a year and a half ago. Still, it’s good to see Columbus taking some initiative.