Ohio Revised Code 1349.72 was enacted in 2019. The statute requires servicers of second mortgages and junior liens on residential real property to mail a written notice to a borrower’s address before collecting or attempting to collect the debt. As originally enacted, the statute was vague and left lenders, servicers, and attorneys with more questions than answers: Did a letter have to be sent before sending an acceleration letter? Did the letter have to be sent prior to returning a phone call from a delinquent borrower? No one wants to make a mistake and be subject to a violation. Read more
