An Ohio lender holds both the promissory note and mortgage on a defaulted property. After foreclosure and sheriff's sale, the sale proceeds are insufficient to cover the full debt. The lender obtains a deficiency judgment. To collect on the deficiency judgment, the lender can:
Correct Answer
A) Pursue standard collection methods including wage garnishment, bank account levy, and attachment of other non-exempt assets
A deficiency judgment is a personal money judgment against the borrower. The lender can use standard collection methods to enforce it, including wage garnishment, bank account levies, and attachment of non-exempt assets. Ohio exemption laws protect certain assets from collection.
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In Ohio, the conveyance fee is paid at the time of:
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