Foreclosure Help

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If you have an FHA loan and 1.) in default and/or 2.) need assistance in preventing foreclosure - call (800)-CALL-FHA - (800)-225-5342

Foreclosure.

The Homeowners Association has seen many homeowners go into Foreclosure over the last three years and as a result we will be posting valuable information for homeowners to try and provide articles as well as informative information on ways to help our homeowners keep their homes.

Tips from Hud for Avoiding Foreclosure - more information
You Can Avoid Foreclosure and Keep Your Home more Information provided by Federal Housing Administration. Foreclosure Help - 1-888-995-Hope

Your mortgage company would rather modify your loan than foreclose on the loan. Call and talk to a loan representative to see what your options are.

Foreclosure Help.

Judicial Foreclosure	Yes
Non-Judicial Foreclosure	No
Security Instruments	Mortgage
Right of Redemption	Yes
Deficiency Judgments	Yes
Time Frame	Usually 150 days

Judicial foreclosure:

The lender sues the borrower to obtain and order to foreclose. Depending on the original date of execution of the mortgage, the lender must wait for three to twelve months before proceeding with the foreclosure. The owner may waive the time limit, but if time is waived, the lender loses any right to sue for a deficiency judgment.
The court issues a notice of sale to be published weekly by the sheriff for three consecutive weeks in a newspaper of general circulation, with the first publication date 30 days prior to the date of sale. The notice must also be served upon the owner and posted in three conspicuous places in the township in which the property is located.
The sale is held by the sheriff as a public auction between the hours of 10:00 AM and 4:00 PM on the date specified in the notice. The successful bidder receives a deed to the property

Links:

Article 29 Mortgages Chapter 7 Foreclosure, Redemption, Sale, Right to Retain Possession Laws which regulate the foreclosure proceedings.
Article 29 Mortgages Chapter 9. Name of and Service on Parties Defendant in Foreclosure Suits Law which requires the plaintiff to list a person to his/her suit.
Article 30 Causes of Action concerning Real Property Chapter 10 Mortgage Foreclosure Actions Laws which regulates the judgment of foreclosure.
Article 33 Liens on Real Property Chapter 4 Foreclosure and expiration of a mortgage or vendor’s lien
Chapter 12 Judgements in Mortgage and Lien Actions Chapter 12. Judgments in Mortgage and Lien Actions Laws which regulates the disposition of a lien within a foreclosure.
Indiana State Code *The Indiana Code is in the process of being updated to reflect changes made by legislation enacted during the 2005 Regular Session of the Indiana General Assembly

Pending or Newly Effected Legislation for Your State?
Please select the Legislative Agenda link here: http://narhri.org/

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The Glennwoods HOA has posted the information as just that information resources for the homeowners in our community that may facing a foreclosure.