Yes, you can usually sell your house if you’re behind on mortgage payments in Columbus, Ohio. Missing payments doesn’t automatically mean you’ve lost your house or the equity in it, but your options can shrink as foreclosure moves forward.
If you’re behind, find out what you owe, talk with your lender, and decide whether you still want to stay in the house. If selling makes more sense, dealing with it before a sheriff sale is scheduled gives you more time to protect the equity you may still have.
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Can I Still Sell My House If I’m Behind on the Mortgage?
Yes. Being behind on your mortgage doesn’t automatically stop you from selling your house.
This is a question homeowners ask EasySell Cash Homebuyers all the time. Someone will call and say, “Can you still buy my house if I’m behind on the mortgage?”
The answer is often yes, but the first thing we need to do is figure out what’s actually going on.
Marc Van Steyn has worked in Central Ohio real estate for more than 20 years and has been involved in more than 250 transactions. A lot of the homeowners he talks with aren’t behind because they were careless. Something changed. They lost a job, their income dropped, bills piled up, or the house simply became too expensive to keep.
Earlier this year, a homeowner called EasySell after losing a job and falling a few months behind on the mortgage. Foreclosure had started, but there wasn’t a sheriff sale scheduled yet.
We were able to agree on a price and buy the house. The foreclosure was stopped, the mortgage was paid through closing, and the seller still walked away with more than $20,000.
Being behind didn’t mean the equity was gone. There was still money in the property, and because the seller dealt with the problem before it got further along, there was enough time to complete the sale.
That’s why selling a house while behind on mortgage payments in Columbus can still make sense in the right situation.
What Should I Do When I First Fall Behind on Mortgage Payments?
Start by getting a clear picture of where you stand.
When someone calls EasySell Cash Homebuyers, Marc wants to know how much is owed on the mortgage and how far behind the payments are. He’ll also ask about other liens and whether the homeowner has spoken with the lender.
Those questions tell us a lot.
Being two or three payments behind is very different from calling after a sheriff sale has already been scheduled. The sooner we understand the situation, the easier it is to figure out what choices are still available.
One mistake Marc sees is people getting overwhelmed and ignoring the problem. Letters sit unopened. Calls from the lender go unanswered. Court paperwork gets pushed aside because dealing with it feels like too much.
But the problem doesn’t stop because you don’t open the envelope.
When homeowners start falling behind, there are things they can do, and ignoring it isn’t one of them.
If a foreclosure case has already been filed in Columbus, the Franklin County Court of Common Pleas foreclosure process can help you understand what may happen next.
You don’t need to know every part of foreclosure law before making a phone call. You just need to know where you are in the process and what you want to happen next.
Should I Call My Lender Before I Sell?
Yes, especially if you want to stay in your home.
When someone calls Marc and says they’re behind, one of the first things he asks is whether they’ve talked with the lender.
A lot of people avoid that call because they assume the lender only wants the house back. That isn’t always what happens. Lenders have ways to work with some borrowers who have fallen behind, but they can’t do much if the borrower never reaches out.
If you want to stay in the house and the lender is willing to work with you, look at that option first.
There may be a loan modification or another arrangement that makes the payments manageable again. Every situation is different, but if keeping the house is what you want, it’s worth having that conversation before deciding to sell.
EasySell Cash Homebuyers buys houses, but buying the house isn’t always the best answer for the homeowner.
If someone can stay in the property and that’s what they want, Marc will tell them to try to work it out with the lender.
The conversation changes when staying isn’t affordable anymore, the homeowner doesn’t want the house, or they’ve already tried working with the lender and nothing has solved the problem.
That’s when selling may make more sense.
What Happens to My Equity If I’m Behind on the Mortgage?
You can still have equity even when you’re months behind on payments.
What matters is what the house is worth compared with what has to be paid when the property sells.
The mortgage payoff is part of that. So are any other liens that have been recorded against the property. The title company researches those items and gets the official payoff information before closing.
If the house sells for enough to cover those amounts and the closing expenses, the money left over can go to the seller.
That’s exactly what happened with the homeowner who contacted EasySell earlier this year.
They were behind. Foreclosure had already started. But they still had equity.
Because they called before a sheriff sale was scheduled, we had time to get the title work done, get the payoff from the lender, and close the purchase. The seller walked away with more than $20,000.
A few more months could have changed that outcome.
Many homeowners hear the word foreclosure and assume there’s nothing left to protect. That isn’t always true. You may still have money in the house, and finding out how much should be part of your decision.
If you’re trying to sell a Columbus house with missed mortgage payments, don’t assume what you’ll walk away with. Get the numbers first.
How Fast Can EasySell Cash Homebuyers Close?
EasySell generally needs at least 10 business days to close.
Most of that time isn’t spent waiting on EasySell. It’s time the title company needs to do the job correctly.
The title company has to complete a title search, request the mortgage payoff from the lender, identify other liens, and put the closing paperwork together.
EasySell often works with NorthWest Select Title to handle that part of the transaction.
There are buyers who advertise closings in just a few days. Marc doesn’t tell homeowners that because, in his experience, nobody can promise every property will be ready to close that fast.
Ten business days is a more realistic minimum.
Sometimes it takes longer. Maybe the lender is slow getting the payoff out. Maybe another lien shows up. Maybe something on the title needs to be cleared before the property can transfer.
That’s normal.
A cash sale can still move faster than many traditional sales because there’s no buyer mortgage approval to wait on and the house doesn’t have to be fixed up first.
If you need to sell a house as is in Columbus, that can save a lot of time when the condition of the property would otherwise slow things down.
Can I Still Sell If Foreclosure Has Already Started?
Possibly. Foreclosure starting doesn’t automatically mean you’re out of time.
Ohio foreclosure goes through the court system, and what matters is how far the case has gone.
The seller EasySell worked with earlier this year had already entered foreclosure when they called. There wasn’t a sheriff sale scheduled, though, and that gave everyone enough time to get the transaction done.
The title company completed its work. The lender payoff was obtained. The property was purchased, and the seller was able to move on with money in their pocket.
If you’ve received foreclosure papers, don’t set them aside and hope the problem works itself out.
Find out what has been filed and where the case stands.
You may still be able to sell your house after foreclosure has started, but the amount of time available matters. Waiting another month because you aren’t sure what to do can turn a workable situation into one that is much harder to fix.
What Happens If a Sheriff Sale Is Already Scheduled?
Once a sheriff sale is scheduled, things get harder.
Marc has talked with homeowners who waited until the sale was already on the calendar. Sometimes there’s still time to do something. Sometimes there isn’t.
That’s the part people don’t always want to hear.
As much as we want to help, there comes a point where there simply isn’t enough time left to complete everything properly. The title company still has to do its work. The lender still has to provide payoff information. Liens still have to be dealt with.
A deadline doesn’t make those steps disappear.
Marc would rather tell someone that the timing probably won’t work than make a promise and waste what little time they have left.
If you’re already facing a scheduled sale, contact your lender right away. Depending on the circumstances, it may also make sense to speak with an Ohio foreclosure attorney.
Getting the call when someone is a few months behind is very different from getting the call when the sheriff sale is days away. Earlier is better.
Why Does the Buyer I Choose Matter When Foreclosure Is Involved?
When time is short, you need to know who is actually buying your house.
This is one area where Marc tells homeowners to be very careful with wholesalers.
A wholesaler may sign a contract with you and then try to find another investor to take over that contract. If they find someone, the deal may move forward. If they don’t, you may have spent valuable time waiting for a sale that never happens.
That can be a serious problem when foreclosure is already moving.
Ohio has disclosure requirements for residential wholesalers, and homeowners should understand ORC 5301.95 wholesaler disclosures before signing anything.
Read the contract. Ask whether it can be assigned. Ask the person sitting across from you if they’re actually the one buying the house.
EasySell Cash Homebuyers buys the houses it puts under contract.
When somebody is months behind and has plenty of time, a delay is frustrating. When a foreclosure deadline is getting close, that same delay can cost them options they can’t get back.
What Should I Do If I’m Behind on My Mortgage in Columbus?
First, figure out where you stand.
How much do you owe? How far behind are you? Are there other liens? Has foreclosure already been filed? Is a sheriff sale scheduled?
Then ask yourself whether you still want to stay in the house.
If you do, call the lender and see what they’re willing to do. Don’t assume the answer before you talk with them.
If staying doesn’t make sense anymore, look at your selling options while you still have time to choose between them.
You may be able to list the house. You may decide selling directly makes more sense because of the condition, timing, or repairs. There isn’t one answer that fits every homeowner.
If you’re behind on mortgage payments in Columbus and want to know whether selling is still an option, call EasySell Cash Homebuyers at 614 969 0624.
Marc will ask a few questions about the mortgage, the missed payments, any liens, and whether you’ve talked with the lender. From there, you can figure out what makes sense.
If keeping the house is still a workable option and that’s what you want, he’ll tell you to pursue it. If selling is the better choice, EasySell can look at the property and see whether there’s enough time to get the deal done.
Frequently Asked Questions
Can you stop a sheriff sale?
Sometimes there may still be options, but it depends on how far the foreclosure has progressed and how much time is left. Once a sheriff sale is scheduled, don’t wait to start asking questions because the available time can disappear quickly.
Should I call my lender before I sell?
Yes, especially if you want to keep the house. Talk with the lender and find out whether they’re willing to work with you before assuming that selling is your only choice.
Can I still sell if foreclosure has already started?
You may still be able to sell after foreclosure has started. The bigger question is whether there’s enough time to complete the title work, get the lender payoff, address liens, and close before the foreclosure moves too far along.
How fast can EasySell Cash Homebuyers close?
EasySell generally needs at least 10 business days. The title company needs time to complete the title search, obtain the mortgage payoff, check for other liens, and prepare the closing documents.
Legal Information
EasySell Cash Homebuyers and Marc Van Steyn are real estate investors, not attorneys or tax professionals. This article provides general educational information and isn’t legal or tax advice. Foreclosure situations can vary based on the loan, lender, property, liens, and court case. Homeowners who need advice about their legal rights should speak with a qualified Ohio attorney.
