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market selloff headline

Friday, May 16, 2014

Ehhh, ohhhh, way to go, O-hi-o...

While my plate has been full of late with appeals and dispositive motion practice and deadlines assuredly loom, I was troubled to learn today from my learned and esteemed friend and colleague, Peter Traska, Esq. that his admirable advocacy on behalf of consumers before the Supreme Court of Ohio was unsuccessful.  Regrettably, the Buckeye State's high court determined recently:

A judgment decree in foreclosure that allows as part of recoverable damages unspecified amounts advanced by the mortgagee for inspections, appraisals, property protection, and maintenance is a final, appealable order pursuant to R.C. 2505.02(B)(1).

That seemingly translates into foreclosure judgments with indefinite amounts subject to lender calculations for various categories.  It seems reasonable to expect uncertainty and more litigation over these "unspecified amounts" which now have the court's imprimatur as being part of "final" judgments, at least in Ohio.

What could possibly go wrong?

Meanwhile, New York jurists have proposed recently what appears to be a vastly more enlightened perspective on alleged debt-related litigation, calling for putative creditors to submit "affidavits of facts" before judgment, "based on personal knowledge detailing the date and amount of the last payment and the itemization of how the amount was calculated."

So I say, ehhh, ohhhh, way to go, O-hi-o...