News & Articles

Land Contracts Generally             A land contract is traditionally defined as a conditional real property sale agreement. Black’s Law Dictionary 320 (Bryan A. Garner ed., West 1999).  This agreement generally occurs when a buyer buys a property, but obtaining title is conditioned upon paying the entire purchase price plus any other interest and charges, as … Read more

By Steven Patterson, Esq.                 In 2013 the Ohio Legislature enacted protections for mortgagees that included constructive notice “to the world” of the existence of a mortgage that was defectively executed. Thus, a trustee was no longer able to avoid a mortgage as a bona fide purchaser. In relevant part, O.R.C. §1301.401(C) provides that  “Any … Read more

Gregory Stout, Esq. Imagine a scenario where you service a second mortgage involving real property owned by a married couple.  The property is jointly owned, and both spouses signed the note and mortgage.  The current holder of the mortgage did not originate the loan, but was assigned the mortgage.  When the loan went into default, … Read more

The Court of Appeals of Indiana recently decided an interesting case involving breach of contract claims under the Fair Credit Reporting Act (FCRA) against a bank.            In Shah v. Wells Fargo Bank, N.A., 092518 INCA No. 18A-MF629, Paresh and Shobhana Shah borrowed $500,000.00 from TCF National Bank, secured by a real estate mortgage.  Ultimately, the … Read more

 In 2004, the West Virginia legislature passed a new law that created an exclusive method for perfecting liens on mobile homes[1].  W. Va. Code § 17A-4A-1, et seq. requires that a lien be properly recorded on a certificate of title to be perfected.  Once perfected and upon default, the creditor is able to obtain a … Read more

Two new Ohio laws will have an impact in mortgage servicing in the Buckeye State.  Our Lead Ohio foreclosure attorney, Carrie Davis, has put together the following summary which outlines the changes to the Ohio Private selling Officer (PSO) rules (HB 480), as well as the new registration requirement for Mortgage Servicers (HB 489). HB … Read more

Ohio Land Installment Contracts-Ohio Revised Code 5313 By: Yanfang Marilyn Ramirez, Esq. In Ohio, land installment contracts for residential properties are governed by Chapter 5313 of the Ohio Revised Code.  A land installment contract is “an executory agreement which by its terms is not required to be fully performed by one or more of the parties … Read more

Putative FDCPA claims are often brought as “one-off” proceedings, especially when the consumer’s goal is debt relief and an award of attorney fees to counsel who obtains it for him. But the most serious claims are those in which a consumer seeks something more: the certification of a class pursuant to Fed. R. Civ. P. … Read more

By Thomas M. Drinan In Ohio real property is transferred via a deed. To successfully convey property from a seller to a buyer there are a number of formal requirements. Arguably, the most important requirement is the participation of two or more parties, a grantor and a grantee. Both must be either a person or … Read more

By J. Brian Steele, Esq.   Among the reviews conducted by our firm prior to filing a foreclosure complaint is a review of your title to the mortgage and the perfection of your security interest against a borrower and third parties. It’s not unusual to find issues—whether it be unreleased prior mortgages, issues with the … Read more

Kentucky Case Alert: Is your Borrower’s Insurance Policy void when you foreclose? By: David C. Nalley, Partner   A recent decision from the Kentucky Court of Appeals should alert lenders to review their customer’s insurance policies.  A provision voiding the policy if foreclosure was initiated was upheld by the court in Papastefanou v. Ky. Growers … Read more

Reisenfeld & Associates Team Members Support our Communities By David Nalley, Partner This summer, Team Reisenfeld has continued its tradition of giving back to the community in a number of ways. Members of our Huntington, WV and Ashland, KY offices joined forces in supporting Habitat for Humanity of Huntington, WV.  Attorneys Jim Tomasik, Geoff Varney … Read more