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KimberlyLaw, Attorney and Real Estate Broker
Category: Real Estate Law
Satisfied Customers: 4219
Experience:  13 years of experience in real estate law: Foreclosures, Landlord-Tenant, Condo/Coop, Property Law, Deeds, Purchases/Sales, Estates.
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Okay here I go I'll try not to cry I'm trying to turn my

Customer Question

Okay here I go I'll try not to cry I'm trying to turn my house back over to the loan company which is called the lure of the Deed, so now they say that house is not worth what owned on it and they won't take you back so they suggested a quick sale I'm fine with that I just want to get out of the house it's too big it's just me I'm not able to pay for it anymore so I want to move they say no they won't take it back so what shall I do I 'd sell it but nobody wants to pay with old on it I think it's thirty thousand I stop paying so they would notice me I can't pay for it anymore I don't have that money and I don't know what to do, It needs work and I can afford to do the work, and nobody wants to buy in my neighborhood I'm thinking about packing up and leaving and leave it up to them it will be picked dry by the time that I leave it and I didn't want that but I don't know what to do.Is $40 all that I have to pay for this,don't have any more for this.
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  KimberlyLaw replied 1 year ago.

Hello, I am happy to assist you today.

Sorry to hear about your situation. This is really a very common situation to be in, so I hope you don't feel too bad about it. You have lots of rights here, so I want to be sure that you do everything you can to protect those rights.

First, you have the right to stay there, even if you aren't paying your mortgage. The foreclosure process in Ohio will take anywhere from 150 days and up, so during that time you are allowed to stay in the property. You can also stay in the property AFTER the foreclosure until the new owner evicts you. So there is no need to rush off and pack up. You should stay as long as you can, if that is something you want to do.

Next, you have the right to a full accounting of the mortgage, and the right to contest the foreclosure. Those steps could cause a delay in the foreclosure and give you more time to figure out where to go next. Filing bankruptcy would also delay the foreclosure.

If you think that the neighborhood is not desirable and the house is unlikely to sell for what you owe them, then foreclosure could be your only option. Be sure to check all your mail, and if you receive an eviction notice then you know that it is time for you to get out. Even then, you can ask the judge for more time if you need time to move out. Don't panic, this will take time. I used to do foreclosures and sometimes it took a year or more to foreclose, during which time the owner lived there rent free!

Best of luck to you and take care. Feel free to ask any follow up questions about my answer above at no charge.


Expert:  KimberlyLaw replied 1 year ago.


Please go ahead and close out the question with a 4 or 5 rating. I just want to make sure that the system doesn't keep your money, which will also ensure that I get credited for my work with you.

Best of luck and take care,

Expert:  KimberlyLaw replied 1 year ago.

Hi there,

I need to close out the questions that I answered from last week, so that I get paid for my work. This is my sole means of income. Please go ahead and provide feedback of 4 or 5 so that I can get credit for my work and close out the question.

Thank you!