Indiana Loss Mitigation, Motion and Notice (Combined) is a legal process used by homeowners in Indiana to resolve mortgage delinquencies and avoid foreclosure. The process involves the homeowner filing a motion with the court to request a loan modification, forbearance, or other loss mitigation option to help them keep their home. The homeowner must also serve a Notice of Motion on the mortgage service/lender, and the court, to inform them of the homeowner's intent to seek a loan modification, forbearance, or other loss mitigation option. If the motion is successful, the court will issue an Order granting the homeowner's request. There are several types of Indiana Loss Mitigation, Motion and Notice (Combined), including: 1. Motion for Loan Modification: This motion requests that the court order the mortgage service/lender to modify the terms of the loan, such as reducing the interest rate or extending the repayment period. 2. Motion for Forbearance: This motion requests that the court order the mortgage service/lender to temporarily suspend or reduce the homeowner's payments until the homeowner can get back on track with their payments. 3. Motion for Other Loss Mitigation Options: This motion requests that the court order the mortgage service/lender to explore other options for the homeowner, such as a short sale or deed in lieu of foreclosure.
Indiana Loss Mitigation, Motion and Notice (Combined)
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