Ohio · statute · Ohio Rev. Code ch. 5315 · 5 active provisions
(A) As used in this chapter : (1) "Borrower" means the person who receives a l oan from a lender secured by a mortgage on real property to which the borrower holds legal title and who is an applicant of the D.O.L.L.A.R. deed program. "Borrower" includes the original borrower's successor in interest. (2) "D.O.L.L.A.R. d…
To assist in the establishment of the D.O.L.L.A.R. deed program, the Ohio housing finance agency shall adopt in rule all of the following:(A) A model form by which a person may apply to participate in the program;(B) A model for the deed, which act shall as the deed in lieu of foreclosure described in division (A)(1) o…
(A) An applicant to the D.O.L.L.A.R. deed program shall submit both of the following to the loss mitigation department of the lender of the mortgage that is in default:(1) An application form as set forth in section 5315.02 of the Revised Code;(2) A request for modification and affidavit form developed under the home a…
(A) If a lender approves a borrower applicant to the D.O.L.L.A.R. deed program, the borrower and lender shall execute all of the following:(1) A deed in lieu of foreclosure that transfers to the lender all of the borrower's right, title, and interest in and to the real property that is the subject of the mortgage. The…
(A) A former borrower and a former lender who are party to a lease with option to purchase agreement under divisions (A)(2) and (3) of section 5315.04 of the Revised Code are governed by Chapter 5321. of the Revised Code.(1) The former borrower-lessee is responsible for all of the obligations of a tenant under section…