Will the foreclosure moratorium delay a foreclosure in Ohio?

The foreclosure moratorium in Ohio, which was implemented in response to the COVID-19 pandemic, has had a significant impact on the foreclosure process. The moratorium, which was put in place on March 20, 2020, has been extended multiple times and is currently set to expire on January 31, 2021.

One question that many homeowners in Ohio may have is whether the foreclosure moratorium will delay a foreclosure. The answer is, it depends on the individual circumstances of the homeowner.

The foreclosure moratorium prohibits lenders and servicers from initiating or completing a foreclosure on a residential property. This includes issuing a notice of default, filing a complaint, or scheduling a sheriff's sale. The moratorium also applies to mortgage servicers and lenders who are seeking to foreclose on a property that is secured by a reverse mortgage.

If a homeowner was already in the process of being foreclosed on before the moratorium went into effect, the moratorium will likely delay the process. However, it is important for homeowners to understand that the moratorium does not forgive or erase mortgage debt. It simply pauses the foreclosure process until the moratorium is lifted. Once the moratorium is lifted, homeowners will still be responsible for paying their mortgage and any past-due payments.

If you are a homeowner in Ohio who is facing foreclosure, it is important to understand your rights and options during the foreclosure moratorium. A qualified attorney can provide you with legal advice and representation to help you navigate the foreclosure process.

If you are concerned about losing your home to foreclosure, we encourage you to call the law firm of Doucet Co., LPA at (888) 200-9824. Our team of experienced attorneys can help you understand your options and protect your rights.