If you find yourself in the middle of foreclosure proceedings in Ohio, it is important to know what the steps are leading up to the sheriff sale and when the sale will take place. It is also paramount to know what will happen if the sale occurs and the time frame in which you can still pay off the mortgage and save the property.
The OH Sheriff Sale Timeline Explained
- The lender files a foreclosure complaint with the Court of Common Pleas in the county in which the property up for foreclosure is located.
- A summons and a copy of the foreclosure complaint will be sent to you. You have 28 days to respond to the complaint and summons. At this point it is wise to retain the services of an experienced attorney to discuss the options available to you, including:
- Filing a Motion to Dismiss – If you think the mortgage lender is foreclosing improperly, you can file a motion to dismiss, which is asking the court to drop the lawsuit.
- Filing an Answer – Answering the complaint will allow you to state which allegations in the complaint are true and which you wish to dispute. This may also enable you to ask the court for additional time to resolve the case with your lender.
- Asking for an Extension – You may also ask the court for more time than the normal 28 day period to formulate a response to the complaint.
- Ignoring the Complaint – This is not to your benefit if you want to stay in your home, as it allows for the lender to file a motion for default judgment with the Court. This allows the lender to move to a sheriff sale much faster.
- After your response, the lender will file a motion for summary judgment. This asks the Court to declare you have no proper legal defense. If you want to dispute the lawsuit, this is the point where you do so. If the motion is successful, then the lawsuit will be won by the lender and the foreclosure will move towards the sheriff sale.
- At any point in the foreclosure proceedings you can opt to file for bankruptcy which will stop the foreclosure proceedings. You should consult an experienced bankruptcy attorney to further explore this option to see if it is right for your situation.
- The sheriff appraises the property to assess its value with the aid of three disinterested persons. The sale is then advertised for at least three consecutive weeks in a local newspaper.
- The Sheriff Sale takes place. This is a public auction where the property must be sold for at least 2/3 its appraised value. Often the lender is the winning bidder. Note that you are not required to leave your home and the buyer cannot change the locks or otherwise evict you until the redemption period is finished.
- The redemption period starts. The sheriff has up to 60 days to report to the court about the sale and the court has up to 30 days to confirm the sale. During this time you may redeem the property by paying the full amount owed on the judgment. Note that this can take anywhere from the full 90 days to only a few depending on how fast the sheriff and the court process the foreclosure.
- The deed is drawn up and the buyer pays the purchase price and records the new deed. At this point the buyer takes possession of the property and can move to have you evicted.
At DannLaw, we will help you fight against foreclosure and explore all of your options for stopping a sheriff sale and staying in your home. We will aid you in making smart decisions every step of the way and make sure that your lender follows all proper legal procedures. Contact DannLaw today to get started on your foreclosure case.