Why does Foreclosure happen?

Foreclosure is the statutory process where a lender enforces a mortgage against the property of a borrower. It happens as a consequence of the lender claiming that the borrower failed to follow a provision in the note and mortgage, which is usually payment related. The process might vary from state to state, but in general, bankers try to work with borrowers to get them caught up on installments and evade foreclosure.


When a borrower buys a property, two primary lending documents are signed:


A Note: It is a contract stating the borrower has promised to pay a stipulated amount to the lender. It carries details about the charge that the borrower plans to pay the lender, apart from the interest rates and a payment plan agreed upon.


A Mortgage: It is a lien against the home. Mortgage carries details such as if the borrower does not adhere to the agreements in the note, the lender is authorized to take specific actions. The foreclosure defense lawyer asserts that this document states a lender’s rights in terms of confiscating the property from a borrower when the latter fails to make the required payments listed in the note. Apart from the above, the document also mentions any rights that the borrower has to reinstate a mortgage after missed payments.


Ohio foreclosure defense attorney explains that a lender is required to file a complaint against the borrower to file a foreclosure action. The complaint must contain two counts. One count alleges that the borrower failed to follow the note or broke the promise listed in the note. Count two is focused upon the right the lender has to foreclose on the property under the mortgage.


If a lender is filing a foreclosure lawsuit against you, contact Doucet Gerling Co., L.P.A. right away at (614) 908-4041 for legal advice in Ohio. In the state of Ohio, a borrower has 28 days after receiving a foreclosure action to reply to the lawsuit and file a response. In case a borrower fails to reply within the stipulated timeline, he/she might face a default judgment, which might entail borrower automatically losing the property rights to the lender. If unsure how to reply properly to the lawsuit, a foreclosure defense attorney at Doucet Gerling Co., L.P.A. can assist you with legal advice in Ohio. The time can vary. In Ohio, a lender has to wait 120 days after one missed payment to send a borrower a foreclosure action. Then the borrower has 28 days to reply to the lawsuit. During this time, the borrower is allowed to continue living at the property.


Ohio foreclosure defense lawyer explains that if a borrower has missed a payment or two, there may still be a few alternatives to bypass foreclosure. Some options include:


  • Reinstatement: Here, the borrower pays back the amount owed prior to the given date in order to get back on track with the mortgage.
  • Short Finance: This is a type of re-financing where the latest amount of the loan is less than the outstanding value, and the lender may give up the balance to help the borrower stop foreclosure.
  • Special forbearance: In case of a brief economic hardship, the lender may consent to decrease or defer payments for a specific timeline.


If the borrower loses the lawsuit or faces default judgment, the property is often sold at a sheriff’s sale. The borrower may continue residing on the property and is responsible for its upkeep until sale confirmation. Depending on how long it takes for the appraisal and property to sell, the process could take anywhere between a few days to a couple of months to fructify. The borrower will then receive a writ of possession once the property is sold and a foreclosure notice to move.

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