In short, no. You cannot be removed from your house until the sheriff's sale takes place, which is the final step in the foreclosure process.
In Indiana, the foreclosure action usually takes six to 12 months to complete. From the time the mortgage lender files a complaint in court to the time of the sheriff's sale of your home, a minimum of 120 days must pass. During this entire process you can stay in your home. However, not taking legal action during this process could still leave you with unmanageable debt obligations.
There is no time to waste in familiarizing yourself with the laws that govern home foreclosure. At Redman Ludwig, P.C., in Indianapolis, our lawyers have more than 60 years of collective experience negotiating with mortgage companies to modify mortgages, executing short sales, defending families from foreclosure and helping people consider their options in personal bankruptcy.
Seek Immediate Counsel With Indianapolis and Noblesville Mortgage Help Attorneys
All the way up until the date of the scheduled sheriff's sale, we can help you in several ways, including bankruptcy options that allow you to keep your home and emergency bankruptcy filing. If you keep the house, you must remain current on your mortgage payments, but in some situations, we can work to modify mortgages with your lender as long as it is not your primary mortgage.
You do not have to lose your home, but if you do get out of the house, your mortgage debt will be discharged, leaving you free of all obligations on the loan.
We can help you save your home, but the economic reality is that saving your home may not be in your best interests. Houses are high-value assets, and they are expensive to maintain. It may be better to release the home and start over fresh. Many people let cars go for same reason.
Getting a new house a few years later that makes economic sense is a tough decision to make, but it may help you the most in the long term and the short term. Our attorneys will guide you through the process that best suits your needs, and we will help you plan for a brighter financial future.
Free, Informative Consultations: Call 866-793-5226 or 317-489-5832
Contact us today to discover your options. Our Indianapolis foreclosure attorneys are prepared to help you regain financial freedom and mitigate your liabilities.
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We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.
