save my home: Indiana Foreclosure Law Summary
- 02/14/10 09:57 PM
A Quick Look - Judicial Foreclosure Available: Yes - Non-Judicial Foreclosure Available: No - Primary Security Instruments: Mortgage - Timeline: Typically 150 days - Right of Redemption: Yes - Deficiency Judgments Allowed: Yes In Indiana, lenders may foreclose on a mortgage in default by using the judicial foreclosure process. Judicial Foreclosure The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder. … (0 comments)
With the recent foreclosure storm happening, mortgage loan modification is getting increasingly popular as an escape route when you want out of mortgage trouble. There's a whole process involved, but studying how it works can get you out of financial hardship and save you a lot of money. Let's look at the mortgage loan modification process.debt piling up. A mortgage loan modification is a way to adjust your mortgage contract and bring the monthly payments down. Depending on the negotiations, the principal balance may be decreased and interest types may be changed. When … (0 comments)
save my home: There are other options rather than Foreclosure
- 02/12/09 03:30 AM
by Michael Mergell, Managing Broker RE/MAX Ability Plus-Fishers Homeowners who have the option of completing a short sale in order to avoid foreclosure may be better served by saving their home in this manner. In some cases I can actually renegotiate the term, monthly payment and back debt to a more comfortable payment allowing you to keep your home. You owe more on your home than it is worth. Perhaps you have lost your job and are behind several payments. Maybe you are dealing with an increasing payment from an adjustable rate mortgage and are now facing foreclosure. A short … (0 comments)
A Quick Look - Judicial Foreclosure Available: Yes - Non-Judicial Foreclosure Available: No - Primary Security Instruments: Mortgage - Timeline: Typically 150 days - Right of Redemption: Yes - Deficiency Judgments Allowed: Yes In Indiana, lenders may foreclose on a mortgage in default by using the judicial foreclosure process. Judicial Foreclosure The judicial process of foreclosure, which involves filing a lawsuit to obtain a court order to foreclose, is used when no power of sale is present in the mortgage or deed of trust. Generally, after the court declares a foreclosure, the property will be auctioned off to the highest bidder. … (0 comments)
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