Sheriff Sale

How to Stop a Sheriff’s Sale in Ohio

There are several ways to stop a sheriff’s sale in Ohio. This post discusses several ways to stop a sheriff’s sale with plenty of good information to help you understand your options.

Dealing with Foreclosure? Watch Out for a Deficiency Judgment

Dealing with Foreclosure? Watch Out for a Deficiency Judgment

A deficiency judgement is the difference between what you still owe on your home in foreclosure and how much the home sold for at a sheriff sale or short sale...

Longaberger Basket Building On Edge Of Foreclosure

Longaberger Basket Building On Edge Of Foreclosure

The iconic Longaberger basket building is reportedly behind on property taxes and facing foreclosure. If the company does not pay back about 600,000 dollars in property taxes during the upcoming weeks, officials have indicated that the old headquarters in Newark, Ohio will be referred to tax foreclosure.

The Longaberger company specializes in handcrafted baskets and was founded by Dave Longaberger in 1973. Since opening, the company has also distributed a wide variety of home items and lifestyle amenities. The Longaberger basket building was built in 1997 and is still a worldly recognized building due to its architecture and shape. Around the beginning of 2015, the company decide to relocate and combine all employees at another corporate location.

The basket building has been on the sales market for at least a year and a half now since all the employees were relocated. The building is over 175,000 square feet and has dropped its price over two million dollars since starting the sale with a 7.5 million dollar price tag. The inside is a luxurious and modern office space that does not resemble a basket, but buyers still seemed turned away to make a purchase.

The company’s tax issues began in late 2014. If taxes are not paid soon, the county can foreclose on the property and submit it to a foreclosure auction. The property might even become a sheriff sale. The basket building could end up selling at auction for a fraction of what a normal sale would bring.

 

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Don’t Bank on Loan Modifications, A Cautionary Tale

Don’t Bank on Loan Modifications, A Cautionary Tale

Tim Neff was a homeowner and corrections officer at the now closed Mohican Juvenile Correction Facility. While attempting to restrain an inmate in 2009, he suffered a serious back injury that put him on worker’s compensation and effectively ended his career. Around this time, he and his wife applied for a loan modification with their mortgage company, Flagstar Bank, in an attempt to make their mortgage more affordable under their new circumstances.

The Neffs claimed that Flagstar made repeated assurances to them that their request would be processed. The loan modification was necessary for the Neffs to keep their house now that Tim was on worker’s compensation and making a fraction of what he made while working as a corrections officer. Throughout the next two years, the Neffs would repeatedly call Flagstar inquiring about the status of their loan modification, to which their representatives allegedly responded by stating it was processing and requesting more documents. The Neffs readily provided Flagstar any documents that they asked for, and maintained that the bank led them to believe that the much needed loan modification was just around the corner.

In contrast to this, the Neffs alleged to receiving several notices from Flagstar and their attorneys stating that their mortgage was in default, and eventually foreclosure. They claim that when they asked Flagstar about this, the company responded by again requesting more documents and assuring the Neffs that the loan modification was still being processed. According to the lawsuit, Flagstar’s representatives even went as far as to describe the foreclosure as a “formality.” When the Neffs asked Flagstar whether or not they should hire an attorney to answer the complaint, Flagstar allegedly responded by telling them it was unnecessary and that they could do everything an attorney could.

In December of 2011, the Neffs learned through their local newspaper that their house was due to be sold. Their decision to put faith in Flagstar’s alleged assurances proved to be a fatal mistake. It became apparent to them that Flagstar had made the decision to proceed with the foreclosure process, despite the assurances the Neffs claimed to have received. According to claims made by Flagstar, the company decided to reject the Neffs’ application for a loan modification in December 2010 due to their failure to provide a singular tax document. However, the Neffs maintained that they were led to believe their loan modification was still being processed until they were made aware of the sale of their property.

The Neffs immediately sought counsel upon learning of this sale, but unfortunately it came too late to stop anything. Doucet & Associates fought hard for the Neffs, going as far as the US Sixth Circuit Court of Appeals twice, but we were ultimately unable to prevent the foreclosure or obtain monetary justice for their horrible ordeal. This should serve as a warning to anyone dealing with a mortgage company to not take anything at face value, especially if you are concerned about foreclosure. Flagstar likely spent hundreds of thousands of dollars in legal fees rather than working out a loan modification with the Neffs, which ultimately led to the Neffs losing their home.

Time is often a critical factor, especially when it comes to foreclosure defense. If you believe foreclosure may be imminent, seek legal advice. Feel free to call our Ask a Lawyer Hotline at (614) 221-9800 if you are concerned about your mortgage.

 

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