IN Foreclosure Buying Procedures
National Overnight
TODAY
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Last Week
4.51%
5.06%
3.24%
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The mortgage foreclosure process followed by the State of Indiana is mainly judicial.
The public auction of foreclosure sale can take place any time after five months of the owner of the property receiving the notice of default.
Ideally, one should not wait till the foreclosure property becomes Real Estate Owned as it would be cheaper to buy during the preforeclosure stage.
Indiana has a provision of making available to a lender, a deficiency judgment, in case a property in foreclosure sells for less than the basic mortgage amount at the public foreclosure auction sale.
