Legal Question in Real Estate Law in Ohio
Don't know what to do
my mom has a second morage and he was sent a letter saying she has not paid it for 4 yrs and she has to be out of her house in 7 days or pay $39,000 which she only borrowed $30,000 and she don't have anyone to go are they allowed to make her leave in 7 short days
2 Answers from Attorneys
Re: Don't know what to do
Your motherwill have enough time to refinance or pay off this mortgage.
A mortgage foreclosure is a several month process. There is no way she can be put out in 7 days.
Re: Don't know what to do
Dear Perplexed: Don't be intimidated! Your Mother does NOT have to move or vacate the premises until there has been a formal foreclosure filed and a Court of Competent Jursdiction orders a public sale through the Sheriff of your county. Then, after all of that, she may have to move within 30 days after such actual sale and transfer to the morrtgage lender.
Foreclosure actions may take more than one or two years, depending upon the County and its volume of foreclosure cases ahead of yours. Even then, your Mother may have an opportunity to negotiate a "short sale" or lower payoff of the entire mortgage, if she can afford it.
Please seek the help of an experienced attorney to assist your Mother ASAP.
Good luck.
Sincerely,
J. Norman Stark.
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