Minnillo & Jenkins, CO. LPA
Hyde Park, Eastgate, Fairfield, Covington: 513-723-1600
Portsmouth: 740-300-2022
Call For A No-Pressure, Free Consultation

More details about the foreclosure process

This post will provide details about what actually happens in a foreclosure and steps you can take as the homeowner, following up on a previous post. In the previous post, we discussed the basics of foreclosure, including legal definitions and possible scenarios.

If you are a homeowner and you happen to miss a payment, this is considered a breach of the mortgage contract. At this point, the lender is entitled to certain rights under the contract. Your lender has the option to begin the foreclosure process. Thankfully, there are multiple scenarios other than initiating foreclosure proceedings that may take place and several options for homeowners facing foreclosure. 

First, the lender should provide you with some type of notice that your account is delinquent. The lender should mail the notice to your home 30 days after the missed payment due date. The letter may provide you with the amount your account is overdue and some steps to take in order to bring it current.

It’s important to note that foreclosure proceedings require extra time and resources on the part of the lender. With this in mind, it’s sometimes possible to work out payment plans with the lender. The lender may even be willing to work out a mortgage modification if you are not able to quickly bring the account current. 

Whether or not the lender provides you this courtesy letter outlining the delinquency, it is possible that the lender can initiate foreclosure proceedings simultaneously or shortly thereafter. If the lender commences a foreclosure suit against you, it must provide you with notice of the foreclosure.

This notice may be mailed to your place of residence, posted on your front door, or hand-delivered to an adult that resides in your home. The notice of foreclosure will provide further details such as a date and location of the foreclosure sale or auction. You will then have 28 days to respond to the foreclosure notice with the purpose of contesting it. 

Even if the lender initiates a foreclosure, there still may be other options for you. It’s extremely important to keep lines of communication open with the lender. Lenders don’t like to be ignored.

If you want to learn even more about what to do if you’re facing a possible foreclosure with a home in the Cincinnati, Ohio metro area, then our foreclosure overview may prove helpful.

No Comments

Leave a comment
Comment Information
Email Us For A Response

How Can We Help You?

Bold labels are required.

Contact Information

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.


Privacy Policy

Contact us right now for a free bankruptcy consultation

NACBA - National Association of Consumer Bankruptcy Attorneys

Proud Member NACBA

We are proud members of the NACBA, a national organization dedicated to serving the rights of consumer debtors. Read More

Super Lawyers

Jenkins Named Super Lawyer!

Founding partner, Christian A. Jenkins, was selected by his peers and the media as a Super Lawyer. Read More

Hyde Park Office
2712 Observatory Avenue
Cincinnati, OH 45208

Phone: +1-513-723-1600
Cincinnati Law Office Map

Eastgate Office
792 Eastgate South Dr
Suite 150
Cincinnati, OH 45245

Phone: +1-513-723-1600
Cincinnati Law Office Map

Fairfield Office
447 Nilles Rd
Suite 9
Fairfield, OH 45014

Phone: +1-513-723-1600
Fairfield Law Office Map

Covington Office
526 Philadelphia St.
Suite 5
Covington, KY 41011

Phone: +1-513-723-1600
Map & Directions
Covington Law Office Map

Portsmouth Office
612 Chillicothe Street
Portsmouth, OH 45662

Phone: +1-740-300-2022
Map & Directions
Portsmouth Law Office Map