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Updated over 1 year ago on . Most recent reply

Jamie Brasseal's profile image
Jamie Brasseal's profile image
Jamie Brasseal
  • Investor
  • from SF Bay Area, CA
  • Member since Apr 16, 2019
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Jamie Brasseal's profile image
Jamie Brasseal's profile image
Jamie Brasseal
  • Investor
  • from SF Bay Area, CA
  • Member since Apr 16, 2019
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Jamie Brasseal
  • Investor
  • SF Bay Area, CA
23
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8
Posts
Private Lending & Conventional Mortgage Advice

Default on Private Loan

Jamie Brasseal
  • Investor
  • SF Bay Area, CA
Posted

If a borrower defaults on a loan, does the lender have the right to secure the collateralized vacant property prior to foreclosure?

Cleveland, Ohio
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Beth Johnson's profile image
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Beth Johnson
  • Lender
  • from Renton, WA
  • Member since May 21, 2018
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Beth Johnson's profile image
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Beth Johnson
  • Lender
  • from Renton, WA
  • Member since May 21, 2018
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Beth Johnson
  • Lender
  • Renton, WA
215
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215
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Beth Johnson
  • Lender
  • Renton, WA
Replied

@Jamie Brasseal

As others have mentioned, it depends on a number of factors and the best course of action would be to consult with a foreclosure attorney in Ohio. Not just any real estate attorney but one who has a history and regular practice of this type of transaction in the state you have a loan on.

  • Beth Johnson
  • [email protected]
  • Podcast Guest on Show #210
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