Ohio foreclosure

The Ohio foreclosure process is judicial. This means that the lender files a lawsuit in the court of the county where the property is located. The judge will state how much the borrower needs to pay to bring the loan current and stop the foreclosure process. The borrower will then be given a bit of time in order to pay to stop the foreclosure process.

Once this time runs out the judge will allow the sale to go through as long as the following procedure is followed:

1. The clerk of courts advertises the sale of the property once a week for 3 consecutive weeks.


2. 3 independent appraisals are requested from three disinterested parties.


3. A copy of the determined value is filed with the clerk of courts


4. The sale price must be at least equal to 2/3rds of the appraised value.


5. The property will sold to the highest bidder by the sheriff at the courthouse steps.