Deficiency judgement ohio?

Question

Do lenders usally come after your other assets after foreclosure in ohio, your other home , etc. Other home is rental, twinplex , same county, other home is paid in full.

Answer 1

Yes they do.  Any poster who says lenders are too busy or won't bother to do this are wrong.  Lenders are looking for ways to cut losses, one method they are using is obtaining deficiency judgments on foreclosures and attaching liens on any real property that the defaulter owns.

Ohio is a state that allows this.

One option may be a deed in lieu of foreclosure or a short sale where there is a stipulation that the lender will not pursue a lien on your other properties.  I'd certainly have an attorney look at it to make sure your interests are protected.

Answer 2

Yes...Ohio will allow a lender to place a lien on any property owned by person(s) listed in the judgment.  They can also garnish salaries, attach bank accounts and seized IRS returns.

Answer 3

Yes, no investment property is protected in any way.