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Home > Blogs > Ohio politics > Archives > 2009 > March > 25 > Entry
Updated - Foley backs Foley on foreclosure moratorium plan in Columbus
Montgomery County Commissioner Dan Foley supports his brother Mike Foley’s proposal to put a six-month moratorium on mortgage foreclosures.
Dan Foley on Wednesday, March 25 testified in favor of House Bill 3, sponsored by Rep. Mike Foley, D-Cleveland, that would impose the moratorium and also give judges during the next three years the authority to modify mortgage agreements if beneficial to both parties.
Dan Foley, a Democrat like his brother, testified at an 11 a.m. hearing of the Housing and Urban Revitalization Committee chaired by - who else? - brother Mike Foley.
The committee also heard from Franklin County Common Pleas Judge Charles Schneider who expressed doubts about giving judges the authority to modify mortgages.
“The mission is to keep people in their homes,” Dan Foley told the committee.
The moratorium would strengthen neighborhoods, families and help Ohioans get through a difficult time, Dan Foley said.
He submitted a chart that showed an almost 300 percent increase in foreclosure filings in Montgomery County from Jan. 1, 1997 through the end of 2008. From Jan. 1, 1997 through Tuesday, March 24, 43,275 foreclosures have been filed in Montgomery County, Dan Foley said.
He said a new approach to solving the problem of foreclosures is needed.
“This bill will give a lot of people some air under their wings,” Dan Foley said.
Judge Schneider said that giving judges the authority to modify mortgages would produce a constitutional challenges. He said he supported using voluntary mediation procedures such as the one used in Franklin County.
Also, if judges got such authority they would need additional staff and other resources to carry it out.
Rep. Shannon Jones, R-Springboro, also raises questions about the bill. She said judges in Warren County have raised concerns like Schneider’s.
“…Just because it’s different doesn’t mean it’s good,” Jones said.
Rep. Mike Foley said after the hearing that he hopes to vote it out of the committee in April and bring it to the House floor for a vote. It is one of the House Democratic leadership’s priority bills.
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Comments
By Ethel S
March 26, 2009 11:12 AM | Link to this
There so many reasons why homes go into foreclosure and everyone involved looses. Ohio lawmakers should pass a mediation law before foreclosure to have a mutually appointed arbitrator to listen to the circumstances to see what can be worked out.By compassion
March 25, 2009 5:39 PM | Link to this
I am sick of reading peoples comments stated that everyone that has a failed mortgage is a loser or user. Some people(most) have lost their home due to job loss and the market crashing. It is hard to sell your home if it is worth less than you paid for it. It is even harder since most around you are in the same boat. We are happy you are blessed to be able to make your payment since you are financially stable. In a second you could need someone to negotiate your mortgage payment so that you are not homeless. Have some compassion instead of being THOUGHTLESS!By Rob
March 25, 2009 12:24 PM | Link to this
Yup, let’s reward those who fail… Hey, am I paying your mortgage too?By bigbry
March 25, 2009 12:15 PM | Link to this
Bless you Matt, you hit the nail top dead center. I support your view…short, succinct, accurate, no political or personal slamming. Wish all comments were so well constructed.By spud
March 25, 2009 12:14 PM | Link to this
Boy are you wrong. Foley as well as local government have screamed for many years about the “preditory lending” practices to state and federal government (Republican). Cities even tried to pass legislation to curb this type of lending but were thwarted by state and federal courts and legislation. This is not a case of to little to late, this is a case of chicken littles sky is actually falling in.By Matt
March 25, 2009 12:00 PM | Link to this
Too little too late for Dan. Where was he when irresponsible lenders and irresponsible homeowners were entering into mortgages that both parties knew would never be repaid. Now he thinks a moratorium will help, it only prolongs the inevitable. Government did nothing as irresponsible lenders and irresponsible homeowners were entering into mortgages that both parties knew would never be repaid, so government should continue to do nothing and let the market sort it out.By What?
March 25, 2009 11:53 AM | Link to this
Sounds like Cain and Able to me.