Wrongful foreclosure occurs when a lender improperly forces a property into foreclosure. Homeowners in Ohio facing wrongful foreclosure have several legal remedies to protect their rights and potentially regain their property.
Understanding these options can help those affected take the right steps.
Injunction to stop foreclosure
One remedy available to Ohio homeowners is to request an injunction to stop the foreclosure process. An injunction is a court order that temporarily halts the foreclosure, giving the homeowner more time to address the issues. To obtain an injunction, the homeowner must provide evidence that the foreclosure is wrongful, such as errors in the loan documents or improper notice.
Filing a lawsuit for damages
Homeowners may also file a lawsuit seeking monetary compensation for losses caused by wrongful foreclosure. If a lender violates Ohio foreclosure laws, the homeowner could receive damages to cover financial losses, emotional distress, and other harms. This remedy is intended to hold the lender accountable for their actions and make the homeowner whole again.
Setting aside the foreclosure sale
If a wrongful foreclosure results in the sale of the property, the homeowner may seek to have the sale set aside. This legal action can reverse the sale if the homeowner can prove that the foreclosure was conducted improperly or if the lender did not follow proper procedures. Successfully setting aside the sale may allow the homeowner to regain ownership of the property.
Moving forward after wrongful foreclosure
Facing wrongful foreclosure is challenging, but there are legal options to fight back. Ohio homeowners have the right to pursue remedies. Taking timely action and seeking legal assistance can make a significant difference in protecting one’s home and rights.