Legal Question in Real Estate Law in Ohio

Re: foreclosure question, please help.

Have an attorney review the terms of both loans. Two issues of concern come to mind. The defaulted loan may have a provision granting the bank some security or interest in any other accounts, loans, or collateral you have with them. This may permit the bank to come after your other property for any deficiency after the judicial sale. (You may be able to get the bank to accept a deed-in-lieu. If not you should monitor, and perhaps participate, at the judicial sale.) Second, the non-defaulted loan may have a provision which permits the bank to declare the full balance immediately due in the event of a documented reason to question your financial integrity (e.g. bankruptcy, trusteeship, other defaults). Good luck. Steve