Stop Foreclosure Indiana

Did you know there are several programs that can help save your Indiana home and stop the impending foreclosure? Loss Mitigation Agencies, such as ours, are experts in these programs and have assisted thousands of homeowners by providing straight answers and viable solutions.

Sometimes things beyond your control can put you into a financial bind that makes it hard to keep up with your mortgage payments. Don't let a missed mortgage payments in Indiana IN turn into default, mortgage foreclosure or eviction.

You and your family can rely upon us to provide guidance, comfort and assurance through this current situation. Let us reduce your stress and put you at ease.

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Indiana IN Foreclosure Laws

Lenders in the state of Indiana may foreclose on a mortgage in default using the judicial foreclosure process.

Judicial Foreclosure

A judicial process of foreclosure requires that the lender file a lawsuit and attain a court order to foreclose on a particular property. This type of process is generally used when no power of sale is present in the mortgage or deed of trust. A power of sale is a clause found in a deed of trust or mortgage that authorizes the sale or transfer of land as outlined by the terms of that clause.

How much time is to elapse between when the lender files the suit and the foreclosure sale occurs is determined by the date the mortgage was signed in Indiana. The wait time is anywhere from three (3) to twelve (12) months. The property owner may file a waiver of the time limit, which allows the sale to proceed without delay. If this occurs, the lender forfeits the right to pursue a deficiency judgment.

A notice of a foreclosure sale must be published once a week for three (3) consecutive weeks. The first advertisement must run thirty (30) days before the sale. At the time the first ad runs the property owner must be served with notice of the foreclosure sale by the sheriff.

After the sale occurs, the sheriff conveys title by a deed to the purchaser. The owner may reside in the property, rent free, until the foreclosure sale, provided the owner does not damage the property.

Once the sale concludes, the borrower has no rights of redemption.

Legal Information Is Not The Same as Legal Advice This site provides information about Indiana state foreclosure law designed to help users safely cope with their own legal needs and possible find alternatives. Everyone's legal status is different. The laws of every state are in constant change and we recommend you consult a lawyer.