Data provided by analysts at CoreLogic indicates mortgage fraud increased by about 37% from the second quarter of 2020 to the second quarter of 2021. As Mortgage News Daily reports, one out of every 120 mortgage applications showed one or more categories of intended...
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Should you file a mechanics lien for non-payment?
Waiting on payment for a job you already completed can create uncertainty and angst. Particularly, if you rely on your earnings to afford necessities, non-payment could compromise your finances. A mechanics lien is something you may consider to convince a non-paying...
When may creditors file claims to void debtors’ transfers?
The Ohio Uniform Fraudulent Transfer Act allows creditors to file claims to void the transfer of property from debtors to third parties. The statute of limitations requires filing a claim within four years of a transaction. If, after the SOL ends, you find that a...
Steps to take before suing someone for non-payment
When you supply a product or provide a service for an individual or business in Ohio, you expect this individual or entity to compensate you for what you provided within a timely manner. Regrettably, this does not always happen. When you fail to receive payment for...
How do you recover assets and property?
Lending can sometimes prove a potentially financially risky business, especially when those you lend to refuse to pay you back. As a lender, you have the right to reclaim the property or money that you loaned to other people. Though it helps to have a concise and...
How does Ohio’s Prompt Payment Act work?
When you work as a subcontractor in Ohio, you have a right to receive prompt payment. In fact, Ohio has a Prompt Payment Act in place that sets guidelines with regard to when a contractor must pay you for your part of the work performed. According to the Ohio Laws and...
Ways to tell if a successor company owes you money
A company that has recently gone bankrupt or otherwise gone out of business may have owed you an outstanding balance. You observe that a new business has emerged from the ashes of the old. This is a successor company, and it may still owe you the money that the old...
Turning an unsecured loan into a lien on real property
Most people pay their debts, so offering unsecured lines of credit can be a lucrative financial enterprise. However, collecting payment from those who default can be costly in both time and money. Still, it is often worth it to take the extra measures to collect...
What process must a creditor follow to lay claim to an estate?
When you need to collect on a debt in Ohio, but the debtor has suddenly passed away, there are ways you can protect yourself from losing the money you are owed. Many creditors add a stipulation in a payment contract indicating that in the event of the debtor’s...