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Indiana Affidavit that No Suit for Foreclosure Filed - Corporation or LLC

State:
Indiana
Control #:
IN-011A-09
Format:
Word; 
Rich Text
Instant download

Description

This Affidavit that No Suit for Foreclosure Filed form is for use by a corporation or limited liability company that owns or has an interest in real estate to which a mechanic's lien has been attached, to state within 13 months after the date of the filing of the notice of the lien that no suit for the foreclosure of the lien is pending, and no unsatisfied judgment has been rendered on the lien.
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FAQ

Contact the lender. Make an opening offer. Remind the lender you can file bankruptcy if they are not willing to cooperate. Negotiate the payment terms. Get the agreement in writing. Report the forgiven debt as income on your federal and state taxes.

To get the deficiency judgment, the bank has to file an application with the court within three months of the foreclosure sale. The judge will then hold a fair value hearing to determine the property's value.

At the foreclosure sale, the lender will make a credit bid, which means that the bank won't come up with actual money. Instead, the bank will get credit for the total amount of the debt owed by the borrowerincluding the principal, interest, late fees, attorneys' fees, and foreclosure costs.

Proving Wrongful Foreclosure If you wish to sue the bank for wrongful foreclosure, you must prove the following: The lender owed you, the borrower, a legal duty. The lender breached that duty. The breach of duty caused your injury or loss (damages)

Deficiency Judgments After Judicial Foreclosures in California. Deficiency judgments are generally allowed after judicial foreclosures in California. But the lender can't get one if the loan was: used to buy a dwelling that consists of one to four units that's owner-occupied (called a purchase money loan)

The mortgage exposes the real estate to claim by the mortgagee and is the document that gives the creditor the right to sue for foreclosure.A trust deed conveys "naked title," that is, title without the right of possession. The deed is given as security for the loan to a third party, called the trustee.

Repayment Plan: Getting Current on the Loan. Mortgage Modification: Adjusting Your Loan Agreement. Short Sale: Selling the Property for Less Than You Owe. Deed in Lieu of Foreclosure: Give the Property to the Lender.

You can stop the foreclosure process by informing your lender that you will pay off the default amount and extra fees. Your lender would prefer to have the money much more than they would have your home, so unless there are extenuating circumstances, this should work.

A judgment creditor cannot force the sale of your home, unless the home can be sold for an amount that would satisfy (i.e. is greater than) the amount of the exemption and all prior liens.

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Indiana Affidavit that No Suit for Foreclosure Filed - Corporation or LLC