According to a white paper released on Monday, vacant or abandoned homes lose $70,000 of their value, but using clearboarding instead of plywood to secure residencies is helping to mitigate losses.
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CLEVELAND – The use of plywood to board up vacant and abandoned. vacant and abandoned under section 2308.02 of the Revised Code." Ohio has the first state law to ban plywood in the United States,
In 2014, Chicago’s city council adopted regulations for securing vacant buildings that still allow plywood to be used to secure a building for an initial six-month period but largely mandate a shift to plexiglass boarding due to its perceived ability to reduce criminal activity around vacant properties. phoenix made the news in April 2015.
Assembly Bill A6806 would ban the use. alternative to plywood for securing vacant and abandoned homes, schools, and commercial properties. Many governments, including the states of Ohio and.
<p>Ohio legislation taking effect April 4 addresses a bunch of concerns, including the use of plywood to board up vacant or abandoned buildings.
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Ohio is the first state to prevent banks from using plywood on properties vacant and abandoned properties in foreclosure. The prohibition was tucked into one of 28 bills signed Wednesday by.
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The new allowable announced by Fannie Mae at the NPPC finds the use of plywood unacceptable when securing vacant properties. Now all vacant properties owned by Fannie Mae will be required to be secured by an alternative to plywood, whether in pre- or post-foreclosure state, or REO starting on November 9. There will be a 90-day adoption period.
The use of plywood to board up vacant and abandoned property was outlawed in Ohio, as Gov. John Kasich signed into law HB 463, which bans it on certain homes.
Ohio is 1st state to ban plywood on vacant properties. It’s a boon for a practice known as clear boarding, which has been catching on around the country.