Ohio Foreclosure Laws

The absolute only method of foreclosure that is allowed in the state of Ohio is the judicial method. The non-judicial method is not recognized. The time to run the length of a foreclosure proceeding is rather lengthy at 150 days and there is both the right of redemption for the borrower and the fight to file a deficiency judgement against the borrower on behalf of the lender.

To begin the process the borrower is served with a complaint and summons by mail as the defendant, or by publication in the event that said borrower cannot be located. After this has happened the borrower then has only 20 days to file an answer to the complaint and summons. If the court within that allotted timeframe receives no answer, a default judgment is entered.

Then before the scheduled foreclosure date, a total of three disinterested freeholders in the county in which the property is located must appraise the property independently and separately. The appraised value must then be filed with the office of the county clerk. The property must be offered for sale at a minimum price of no less than two thirds of the appraised value as ascertained with the three appraisals.

In the time before the sale, a notice of sale has to be published weekly for a minimum of three consecutive weeks in a newspaper of general circulation in the county in which the property is located.

The county sheriff will conduct the sale, and the property sold to the highest bidder.

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