Ohio Foreclosure Process

[draygnmage]

Ohio.

Not that it matters in this case, but I am on the mortgage and not the deed (I quit claimed it to my ex-wife as part of the divorce agreement). The house is now in foreclosure. The default hearing is Aug 8th. I have retained an attorney and am trying to finish paying the costs for bankruptcy. $200 down, $800 owed so its going to take at least another month to a month and a half to finish paying the attorney. The mortgage is through Wells Fargo.

My question is this:

Once they obtain their default judgment, I assume they will put the house up for sale. I know that they can come after me for the deficiency balance of the mortgage after they sell the house, but do they have to wait until they sell the house to begin wage or bank garnishments or can they immediately file for bank and wage garns upon getting their judgment?

 

[draygnmage]

Just bumping thread up. I really need an answer to this one.

 

[FlyingRon]

What bankruptcy?
The bank doesn't put the property up for sale, the court does.
The bank usually bids on the property, but in any event if the property sells for less than what is owed, a deficiency suit. They can attempt to collect on the deficiency for two years. Typically the judgment is entered coincident with the sale. If you're otherwise in bankruptcy, you need to talk to your lawyer about that.