Ohio Foreclosure Process

Link to Ohio Foreclosure Laws

To begin an Ohio foreclosure, the appropriate court documents are filed in a local court.

Foreclosure Overview

Ohio foreclosure allows for only judicial (in court) foreclosure processes. Generally, the foreclosure process takes about seven months.

Pre-foreclosure Period

To begin an Ohio foreclosure, the appropriate court documents are filed in a local court. The borrower is given notice of the court filing by certified mail, regular mail, or personal service. If a borrower cannot be located, the lender must publish the notice of the court filing.

Once the notice has been properly delivered and/or published, the borrower has 28 days to respond. Failure to respond is automatically going to cause the court to find the borrower in default. After the court makes rules, the county clerk issues an Order of Sale to the sheriff.

The court allows borrowers to pay the debt amount within a certain time, typically 30 days. If the borrower fails to pay, the foreclosure process moves forward to sale.

In an Ohio foreclosure, the borrower typically gets the right to:

  • Pre-foreclosure notices
  • apply for loss mitigation
  • receive certain foreclosure notices
  • get current on the loan and stop the foreclosure sale
  • receive special protections if the borrower or spouse is in the military
  • pay off the loan to prevent a sale
  • redeem the property after the sale
  • file for bankruptcy, and
  • get any excess money after a foreclosure sale.

 

Notice of Sale & Auction

Prior to the foreclosure sale, the sheriff must obtain three appraisals. The sheriff must publish an ad in a local newspaper for three weeks. The sheriff conducts a public auction at the county courthouse.

The sale price is required to be at least two thirds of the average appraised value. The property is sold to the highest bidder. After the sale, the court reviews and then files an order confirming the sheriff’s sale. The sheriff prepares and issues a deed transferring ownership to the winning bidder.

The borrower has a right to redeem the property by paying the balance owed and court cost at any time before the sale is confirmed. Once the sale has been confirmed the borrower loses all rights to the property.

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