A time may come in your life where your debts may be overwhelming and you find yourself in the middle of foreclosure. Although foreclosure is not the ideal situation in which to find oneself, if such is the case, you will surely find yourself looking for the best attorney who can bring resolution to your dilemma. A law firm who has been called Dayton Ohio’s Best Foreclosure Lawyer has seen many scenarios involving foreclosures over the years. Here are some of the things you may want to be abreast of if you or someone you know are in this situation.
If you live in Ohio, you probably already understand that Ohio is considered a lien theory state, which means that the property is considered the security for the loan. When a home is going through the foreclosure state, the holders of the mortgage will go to court for a proceeding in which the final statement of foreclosure will be issued. Such property at that time will be put up for public sale. It normally takes about five to six months for a property to be foreclosed upon if there is no contesting to the foreclosure. Of course, if the borrower legally objects to the foreclosure, such as if he or she is filing bankruptcy, that will extend the time. When a foreclosure intent has been filed in the court, the borrower has 28 days to answer the file, lest a judgement be rendered by default. At this point, three parties who do not have a stake in the property must offer an appraisal of the property. A notice of intent for foreclosure sale must be publicly advertised no less than a month in advance.
If you are the borrower of the property, and want to avoid this kind of scenario, it is best to call Dayton Ohio’s Best Foreclosure Lawyer. Thompson & Deveny Co., Attorneys-at-Law, have been representing clients for various services, including foreclosures for a combined 100 plus years. They help with complex cases such as bankruptcies, civil suits, family law cases and estate planning. More information about the law firm’s services can be found at the website.
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