It’s a difficult time to own a home in Ohio. While there are court rulings that protect homeowners, simply showing up in court isn’t enough to win your foreclosure case.
The key to saving your home from the grasp of aggressive lenders is to act swiftly, strategically and confidently. Listed below are a few tips on how to stop foreclosure in Ohio:
Promptly file an answer to the foreclosure complaint. When you receive the summons, the official notice that your mortgage lender is seeking a foreclosure, you have 28 days to file a response. This response doesn’t have to be perfect, since Ohio courts allow you to amend your answer, but if you fail to respond, your lender could win the case by default.
Check your eligibility for the Home Affordable Mortgage Program and Restoring Stability. These programs allow homeowners who are struggling to make their mortgage payments to negotiate a more appropriate home loan with their lender. The Home Affordable Mortgage Program is a federally subsidized program that has helped many Ohio residents secure home loans with better interest rates in recent years.
Contact an Ohio foreclosure defense attorney. If you would like the assistance of an attorney with local foreclosure attorney, you might want to contact a foreclosure lawyer. He or she can walk you through the foreclosure defense process.
Challenge securitized notes. In recent years, mortgage lenders have shuffled new mortgages off to companies who gather thousands of home loans into a single investment vehicle. These loans are known as securitized notes, and the process to securitize them is often a mess. If your Ohio foreclosure attorney spots a securitization error, you may be able to stop your foreclosure.
In Ohio, every mortgage lender must file its foreclosure complaint in a court of law. This adds extra protection for homeowners, but it also creates a world of confusion for those unfamiliar with Ohio foreclosure laws.
With the aid of a foreclosure attorney, you’ll be able to start using these foreclosure laws to your advantage, and move one step closer to learning how to stop foreclosure in Ohio.