Foreclosure Trouble? Here’s What You Can Do with Your Columbus Home

by Jan 5, 2022

You are a few months late with your mortgage payment, and you lack the resources to pay on time. You feel that your house payments are too high. Maybe you’re considering selling your house now rather than waiting to go through a foreclosure. The question is: Is it possible?

How Does the Ohio Foreclosure Process Work?

Whether you live in Columbus or Cincinnati, law requires that the foreclosure process in Ohio must be judicial, which means that the lender must file a lawsuit asking the court to allow a foreclosure sale. Your lender then serves you with a summons and complaint to give you notice of the suit. 

The summons will include instructions on when and where to file an answer, along with other pertinent foreclosure information. There will likely be a form for requesting mediation included with your summons if the court has a mediation program.

If you disagree with the allegations or believe the lender failed to provide adequate documentation, you can raise these issues in your answer. You can ask the court for an extension of time if you need more time to answer. Subject to a few exceptions, if you don’t file an answer or raise a particular defense in your answer, it won’t be allowed later.

Without a response, the lender will seek a default judgment, which will allow it to hold a foreclosure sale. However, if you choose to defend the foreclosure suit, the case will go through the litigation process. The foreclosure magistrate makes findings and recommendations regarding the foreclosure. 

If you don’t object to these findings, or if the court overrules your objections, then the court may adopt the magistrate’s decision in full or in part.

The lender might seek summary judgment. A summary judgment motion asks the court to grant judgment in favor of the lender because the critical aspects of the case are not contested. The judge will enter a judgment and order the home sold at auction if the court grants summary judgment for the lender—or if you lose at trial.

Selling Your House Before Foreclosure

One of the best options when facing foreclosure in Columbus, Ohio is to sell your home. The goal is not just to sell the home, but to do it quickly. When homes take longer to sell in a buyer’s market, foreclosure rates are higher. So, what should you do?

Pricing your house

If you want your home to sell, make sure to price it aggressively, which means low. In some cases, buyers will not even see your home if it is overpriced because it is out of their price range. Some buyers will focus on properties whose sellers appear more realistic about pricing. The house will sit on the market longer than it should, and lowballers will emerge from the woodwork.

Marketing your house

Ensure your home is well-marketed. It doesn’t matter if you hire a real estate agent or not, just make sure it gets done. Almost all house hunting begins online. Therefore, your listing should be on all of the top real estate listing sites, as well as your and your realtor’s social media accounts.

Fix up your home, but don’t spend too much. In the event of foreclosure, you probably cannot afford the time or money it would take to complete major repairs. Put your attention on the things that are inexpensive, but make a huge difference in appearance, such as paint and carpet.

Consider selling to a cash home buyer

What if your house doesn’t sell quickly in the market? You can choose to sell it to a cash home buyer. They will buy your property as-is and close the sale in a matter of days or weeks. You don’t need to list your home on websites, hire a real estate photographer, and spend on repairs and maintenance. You can use the payment upfront to pay off your loans and make a fresh start.

Ready to Sell Your Home?

When you need to sell your house or are facing the challenge of selling your house for cash, Offer Express is the answer. As a trusted cash home buyer in Columbus, Ohio, we work with homeowners of all kinds. We can even pay cash for your house right away, so you don’t have to worry.

Our team is here to help you every step of the way, from your first consultation to your moving day. We identify your needs and customize our services accordingly. Whatever your situation may be, you can depend on us for quality service. We buy houses in Ohio as-is and make no-obligation cash offers.

If you’re ready to sell your home fast, contact (614) 820-5777 to receive a cash offer. We look forward to speaking with you and helping you sell your home.

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