This website is designed for the Ohio homeowner who is struggling financially and evaluating whether to keep the house. If you are buying a house on land contract, buying a mobile home or even a tenant whose house is in foreclosure, see the Other Housing section of this website for information and resources. However, if you are buying a house with a typical loan and mortgage, then the Pre-Foreclosure and Foreclosure sections are for you.
There are many helpful foreclosure avoidance programs and options but not every option is the right choice or even an available choice for every homeowner. Your situation is unique and requires an individual assessment of available opportunities best provided by an experienced professional familiar with foreclosure avoidance programs and options. But you can start here and gain insight and understanding that will be very useful as you assess your situation.
Evaluating Your Options
For every homeowner there is information to be gathered and assessments to be made before deciding to keep the house. Sometimes financial circumstances are such that ultimately there is no decision to be made except whether to voluntarily give the house up or let it go into foreclosure. For others, filing bankruptcy or cutting expenses to the bone to afford the mortgage payment may be too great a hardship. But for everyone it is important to make an informed decision. Knowing all available options and their cost allows you to make a decision that is right for you.
Pre-Foreclosure and Foreclosure
The Pre-Foreclosure section is for homeowners in financial distress and the information, resources and tools available to help them stabilize their situation. Addressing the financial problems may involve modifying the mortgage, refinancing the loan, getting rid of other debt and expenses or qualifying for short or long-term income through government programs.
The Foreclosure section is for homeowners who have had a foreclosure complaint filed against them in common pleas court. They are actively and legally being foreclosed upon by the lender that owns their mortgage. The Foreclosure section contains information and resources that specifically address the foreclosure lawsuit. Homeowners in foreclosure who want to keep their house will also need to cure the financial problems that led to the foreclosure, while simultaneously dealing with the foreclosure process.
Below is a series of steps to gather information, identify options and define a strategy to reach your goal.