Time-Sensitive: Sheriff's Sale Defense
The bank has a legal team and a timeline.
We move faster.
If you have received a foreclosure complaint or have a Sheriff's Sale date set, doing nothing is the most expensive option. This guide explains your rights and your options.
Ohio is a judicial foreclosure state
The 4 Stages of Ohio Foreclosure
Every case goes through Common Pleas Court. Knowing your stage determines your options.
3+ missed payments
The lender sends a Notice of Intent. No lawsuit filed yet. You have maximum leverage and the most time to negotiate.
Months 1–3
The bank sues in Common Pleas Court. You receive a Summons and have 28 days to respond in writing or risk a default judgment.
Months 4–8
A judge signs the Judgment Decree. The Sheriff appraises the property and sets a public auction date 30–60 days out.
Auction Day
The property sells at public auction for 2/3 of appraised value. Once confirmed by the court, you lose all ownership rights.
Know your paths
Your 4 Options When Facing Foreclosure
Be honest with yourself about each path. They are not all equal.
Pay Off the Mortgage
Rarely realistic in foreclosure
You could pay the full arrears (all missed payments + fees + legal costs) to reinstate the loan, or pay off the entire balance to stop the case outright.
- Reinstating typically requires 6–12 months of missed payments plus attorney fees
- If you had the cash, you likely wouldn't be in foreclosure
- Banks are sometimes willing to create a repayment plan for smaller arrears
Loan Modification
Possible, but takes time you may not have
A loan mod restructures your mortgage terms—lower rate, extended term, or principal reduction—to make your payment affordable again.
- Takes 3–6 months to process; bank may continue foreclosure during review
- Requires proof of steady income to qualify
- Can stop foreclosure if approved—and you keep the house
- Many applications are denied; denial resets your timeline
Try to Sell with a Realtor
Traditional listing is too slow
You could list your home on the open market with help from a real estate agent. In a normal market this takes 60–90 days to close—before you even find a buyer.
- Buyer financing can fall through, resetting your timeline
- Requires repairs, staging, and showings on an already-stressful timeline
- 6% agent commission comes out of your equity
- Only works if you have 90+ days before the sale date
Sell to Direct Home Buyers (Cash)
Fastest path to stopping the sale
We buy the house for cash, pay off your mortgage at closing, and hand you a check for any remaining equity—often within 7–14 days.
- Stops the Sheriff's Sale immediately upon closing
- No repairs, no clean-out, no showings
- $0 commissions or closing costs
- No foreclosure notation on your credit record
Know what you're facing
What Actually Happens at a Sheriff's Sale
In Ohio, the Sheriff's Sale is a public auction held at the county courthouse. The bank bids up to the amount owed. Third-party investors bid against them.
By law, the opening bid is set at 2/3 of the court-appraised value—not market value. If your house is worth $150,000, bidding starts at $100,000. If that doesn't cover what you owe, the lender may pursue a deficiency judgment for the remaining balance.
Any equity that exceeds the debt goes through a complicated court process to be returned to you—minus hefty court and legal fees that accumulate throughout the case.
Sheriff's Sale vs. Selling to Us
Side-by-side outcome comparison
| Factor | Sheriff's Sale | Sell to Us |
|---|---|---|
| Sale Price | 2/3 of appraised value | Fair market |
| Your Equity | Often lost to fees | You receive it |
| Credit Impact | 7-year mark | Normal sale |
| Deficiency Risk | Yes — bank can sue you | Eliminated |
| Your Control | None | You pick close date |
Your action plan
What to Do Right Now — Step by Step
Follow these steps right away — whether you want to keep the house, sell it, or aren't sure yet.
Find Your Papers
Look for your mortgage bill, the court papers they sent you, any letter about a Sheriff's Sale date, and your property tax bill. You need these to know exactly what you owe and how much time you have.
Write down your loan balance, your monthly payment, and the sale date if there is one.
Call Your Lender
Ask for the "Loss Mitigation" department — not regular customer service. Ask them three things: How much do I owe? Can I pause payments? When is my next court date?
Write down who you talked to and what they said. Call back if you need to — different people give different answers.
Check Your Loan Type
FHA, VA, and USDA loans give you extra time and more options before you can lose your home. Regular loans don't. Knowing your loan type changes what you can do next.
Your loan type is written on your mortgage paperwork. If you're not sure, call your lender and ask.
Find Out What Your Home Is Worth
Look up homes like yours on Zillow. Compare the sale prices. Then subtract what you owe on your mortgage. If the number is positive — you have money to protect. If it's negative — a short sale may be the answer.
The court values your home lower than the real market. Always use a lower estimate to be safe.
Pick a Path — Right Now
Have a steady income? Call Loss Mitigation about a loan change. Have equity and no time? Call a cash buyer. Owe more than the house is worth? Ask about a short sale. Whatever you do — don't wait and do nothing.
Every week you wait, your choices shrink. It's better to act with half the facts than to wait for all of them.
Talk to a Lawyer
Go to ohiolegalhelp.org for free help. Many lawyers that handle foreclosure will talk to you for free the first time. If your sale date is less than 30 days away, a lawyer may be able to delay it so you have time to sell.
Even if you plan to sell the house, a lawyer can make sure the bank can't come after you for extra money later.
The real cost
What a Completed Foreclosure Actually Means For You
A foreclosure doesn't just end with losing the house. The consequences follow you for years.
Your credit score drops 100–160 points overnight
A 700 score can fall to 540–600 — affecting every loan and credit card for years.
You can't get a new mortgage for 7 years
Fannie Mae and Freddie Mac won't approve you. FHA requires 3 years minimum.
The bank can sue you for the remaining balance
If the auction price doesn't cover what you owe, Ohio law lets the lender pursue the difference — called a deficiency judgment.
Landlords can turn you down
Most landlords run credit checks. A foreclosure is a red flag that gets applications rejected.
Some employers will see it on a background check
Finance, government, and security jobs often pull credit reports. A foreclosure can cost you a job offer.
It becomes a public court record — forever
Every step filed in Common Pleas Court is searchable by name. Employers, landlords, and lenders can find it.
The good news
Every one of these consequences is avoidable if you sell before the auction is confirmed.
A cash sale closes the lawsuit, removes the lis pendens from title, and shows on your record as a normal sale — not a default.
Common questions
Foreclosure FAQ
How close to the auction can I still sell?
We have stopped sales with as little as 48 hours remaining, but it requires emergency coordination. Ideally, contact us at least 7–10 days before the sale date. The earlier, the more equity you protect.
Do I have to move out right away?
No. We can negotiate a post-closing occupancy agreement that gives you 30–60 days after closing to find new housing. You use your cash proceeds to relocate on your own terms.
What if I owe more than the house is worth?
That's what a Short Sale is for. We negotiate with the bank's Loss Mitigation department to accept less than the full balance. The bank often prefers this to managing and reselling the property themselves.
Will selling to you stop the foreclosure lawsuit?
Yes. When we close, your attorney files a satisfaction of judgment with the court. The lawsuit is dismissed. The lis pendens is released from title.
What if there are other liens—back taxes, HOA, second mortgage?
We identify all liens during our title search and negotiate their payoff at closing. You don't need to resolve them before we can make an offer.
Can I sell if the house is in bad shape?
Yes. We buy as-is, in any condition. You clean nothing, repair nothing, and can leave whatever you don't want behind.
Ready to move forward?
Don't let the bank dictate the outcome.
Tell us your situation today. We review every case confidentially and respond within hours—not days.