About Foreclosures Indiana
When the lender files a complaint in court against the borrower, the foreclosures Indiana process begins. Before filling the complaint, Indiana law does not require that a lender send a default notice to the borrower. But there has to be kept in mind that most lenders do. The pre-foreclosure period between filing the complaint and the foreclosure sale is being controlled by the date the mortgage was executed. As for older mortgages it can be six or 12 months, most often is three months, as there is no waiting period for abandoned properties. Allowing the sale to proceed, the owner may agree to dismiss this pre-foreclosure period. Pay attention to the fact that this causes the lender to lose its rights to pursue any debt not satisfied by the foreclosures Indiana sale. A copy of the order of sale and judgment are issued and certified by the clerk to the sheriff, after the pre-foreclosure period expires, as then, after receiving the order, the sheriff proceeds with the foreclosures Indiana sales.
An important aspect which has to be taken into consideration is being represented by the fact that at any time before the foreclosures Indiana sales, borrowers may satisfy the judgment by paying the debt, interest, and costs. This practically must result in the complaint being dismissed. Also, there has to be kept in mind that, usually, foreclosures Indiana are being conducted by auctioneers, as the notice of sale must be published once a week for three weeks in a local newspaper, and the first publication must occur 30 days before the sale. The property ownership is being transferred to the winning bidder, immediately after the foreclosures Indiana sale. Pay attention to the fact that a borrower no longer has redemption rights, once the foreclosures Indiana sale is complete.