A new state law is being viewed as a national model for eliminating zombies. Zombie properties, that is. A law taking effect Wednesday will speed up the process for foreclosing on vacant and abandoned properties – homes and other structures given their nickname for being left to languish like the living dead. The legislative solution, which was three years in the making, cleared the state Senate and House and was signed by Republican Gov. John Kasich in June. It establishes a fast-track system that trims the foreclosure process from two years or more to as little as six months.
Backers say the speedier foreclosure procedure, tucked into a bill exempting certain natural gas sales from the state sales tax, also protects property owners’ rights by requiring at least three of 11 listed factors to be present before foreclosure can begin. Read more here!