Judicial foreclosure is available in Indiana; non-judicial foreclosure is not available. Primary service instrument is mortgage. The timeline for foreclosure in Indiana varies by process, but typically last 150 days. Right of Redemption and deficiency judgments are allowed.
- The HUD office for foreclosures in Indianapolis Indiana is at the Indianapolis Office
151 North Delaware Street, Suite 1200 Indianapolis, IN 46204-2526 Phone: (317) 226-6303 Fax: (317) 226-6317
- The Indiana foreclosure prevention network can be found at 151 North Delaware Street, Suite 1200 Indianapolis, IN 46204-2526Phone: (317) 226-6303 Fax: (317) 226-6317.
- The numbers of foreclosed homes in Indiana are at the highest level since the great depression.
- Visit our Indiana Foreclosure Laws section for relevant code.
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. However, there is a wait time between the date the suit was filed and the day the property is sold.
In Indiana, the date the mortgage was signed determines the length of time a lender must wait between filing the suit and proceeding with the foreclosure sale. The wait time is anywhere from three (3) to twelve (12) months, but the owner may file a waiver of the time limit, which allows the sale to proceed without delay. When this occurs, the lender loses the right to pursue a deficiency judgment.
The foreclosure sale process involves publishing an ad once a week for three weeks. The first ad must be run 30 days before the sale. At the time the first ad is run, each owner must be served with notice of the foreclosure sale by the sheriff. The sheriff conveys title by a deed given immediately after the sale. The owner may reside in the property, rent free, until the foreclosure sale, provided the owner is not committing waste, which means tearing up the property.
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