Foreclosure.  It is a frightening reality that many Hoosiers face in today’s economy.   However, there are alternatives to being foreclosed on!   We specialize in consulting and solving problems homeowners have when life gets tough.  There are numerous ways you can handle being delinquent on your payments.  Keep reading to see some options you might have.

Foreclosure fact:  Indiana is judicial foreclosure state, meaning that the courts will sue a delinquent for foreclose.  The timelines vary widely from lender to lender, but a foreclosure usually takes around 150 days.

Many borrowers make the mistake of waiting until the lender starts sending threatening demand letters before approaching the lender to ask for assistance. By that time, chances of renegotiating the loan are slim. Don’t put off the lender!   If you are behind on your mortgage payments, ACT NOW!  Contact your lender as soon as you find that you are unable to make your monthly mortgage payment.   Let the lender know your situation, and why you have become delinquent on your payments.  Many times there have been changes in income due to death, sickness, job loss, divorce, etc.  Talk with your lender about your circumstance.  The lender may have options that are available to you that could help you save your home.   Ignoring the problem and doing nothing will only hurt you.   Time is not your friend when you are behind on a mortgage payment.   

Foreclosure fact:  Indiana is a judicial foreclosure state.  That means that the banks

have to sue you in court to foreclose.

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