Ohio allows deficiency judgments after foreclosure:
Correct Answer
C) Yes, within 2 years if the sale price is less than debt
Ohio allows deficiency judgments within 2 years of foreclosure sale if the sale price does not cover the outstanding debt.
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Related Concepts
Foreclosure is the legal process by which a lender takes possession of a property when a borrower fails to make mortgage payments. It allows the lender to sell the property to recover the outstanding debt.
In the context of foreclosure, a deed transfers ownership of the foreclosed property to the new owner, typically the buyer at a foreclosure sale.
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