Re: How much time do I have left??

Posted by OC Andy on October 18, 2007 at 10:08:30:

In Reply to: How much time do I have left?? posted by Jo on October 18, 2007 at 09:15:53:

Jo:

FYI, you can still redeem the property up to the confirmation of sale date if you have the cash to bring the loan(s) current.

OH also permits deficiency judgements after the sheriff's auction if the proceeds of the sale are not enough to payoff the outstanding loan balance plus fees, etc.

The 2/3 of appraised value is the statutory starting point for opening bids - it really has very little to do with the final bid price of the property. So, in your case, it's not surprising that there were no other bidders besides the bank since the final bid exceeded the appraised value of the house.

Your Federal Tax lien will follow you wherever you go and at some point in time, you'll have to settle with the IRS.

Rent for 2-3 years, get your finances in order, pay all bills on time, and then think about owning again.

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