On April 28, 2020, Judge Thomas O. Beridon granted preliminary approval of an $85,000.00 common fund settlement in Carr v. General Electric Credit Union (“GECU”), No. 1903532, a class action based on GECU’s filing of untimely mortgage releases in violation of Ohio Revised Code § 5301.36.
The class action case was filed in the Hamilton County Court of Common Pleas on July 26, 2019 relating to GECU’s failure to timely release plaintiffs’ mortgage for more than 90 days after the mortgage was satisfied (i.e. paid off). Plaintiffs’ claim was on behalf of themselves and all other Ohio GECU mortgagors for whom GECU failed to timely file mortgage satisfactions or the current property owner of such property from July 26, 2013 to the present. Under Ohio law, the failure of the mortgagee (lender) to file the mortgage release within 90 days of the mortgage being satisfied may entitle the mortgagor (borrower) and/or current property owner to $250.00 under R.C. 5301.36.
Please view a copy of the order here.
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