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Published on Monday, Dec 10, 2007
Associated Press
CINCINNATI: An Ohio court ruling that a bank couldn't foreclose on a home was the latest in a series of similar decisions that could slow the statewide tide of foreclosures.
Hamilton County Common Pleas Judge Steven E. Martin ruled last week that Wells Fargo Bank couldn't foreclose on a North College Hill home because its lawyers didn't prove that the bank owned the mortgage. Federal judges in Cleveland, Dayton and Columbus recently issued similar rulings.
With mortgages sold off to investors, the true owner of a mortgage isn't always clear. Attorney General Marc Dann on Friday filed motions in other cases around Ohio based on the ruling, hoping the state with the highest percentage of homes in foreclosure has found a legal method to address the crisis.
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