What happens after the foreclosure moratorium ends in Ohio?

If you are facing foreclosure in Ohio, you may be wondering what will happen after the foreclosure moratorium ends. The foreclosure moratorium, which was put in place in response to the COVID-19 pandemic, is a temporary measure that provides relief to homeowners by temporarily halting the foreclosure process. It's important to understand the potential consequences of a foreclosure on your credit and financial future, as well as the options available to you to avoid or mitigate them.

When the foreclosure moratorium ends in Ohio, the foreclosure process may resume. This means that the lender may proceed with the legal process to foreclose on your home if you are unable to pay your mortgage. If the foreclosure is completed, you will lose ownership of your home and may be required to vacate the property.

It's important to note that the end of the foreclosure moratorium does not mean that you have no options or recourse. There may still be ways to avoid or mitigate the impact of the foreclosure on your credit and financial future. For example, you may be able to negotiate a mortgage modification with your lender or sell the property to pay off the mortgage debt.

If you are facing foreclosure in Ohio and want to explore your options after the moratorium ends, it's important to seek legal guidance as soon as possible. The experienced attorneys at Doucet Co., LPA can help you understand your rights and options and work with you to develop a plan to protect your credit and financial future. To schedule a consultation with our team, call us at (888) 200-9824.