The attorneys at Markovits, Stock & DeMarco, LLC filed an Ohio class action lawsuit against General Electric Credit Union for failing to timely file mortgage satisfactions in violation of Revised Code Section 5301.36. Filed on behalf of Valerie Carr & Kai Krueger as co-plaintiffs, the class action complaint alleges that General Electric Credit Union filed a mortgage satisfaction relating to the plaintiffs’ former property more than 90 days after the mortgage was satisfied (i.e. paid off). The plaintiffs filed the complaint on behalf of themselves and all other Ohio mortgagors for whom General Electric failed to timely file mortgage satisfactions. Under Ohio law, the failure of the mortgagee (lender) to file the mortgage release within 90 days of the mortgage being satisfied results in $250 statutory damage to the mortgagor (borrower).
Please view a copy of the class action complaint here.
If you recently satisfied the mortgage on your property (through paying off the mortgage and retaining the property or through selling the property) and would like to determine whether it was timely released, please contact Markovits, Stock & DeMarco at 513-651-3700 or via the form below and we will assist you.
Please note that submitting this form does not create an attorney-client relationship, and you should not use it to submit confidential information.
ADVERTISING ONLY: The information on this blog is not, nor is not intended to be, legal advice. You should consult an attorney for individual advice regarding your own situation.