Foreclosure is the procedure by which a party who has loaned money secured by a mortgage or deed of trust on real property (or has an unpaid judgment), forces the sale of the real property to recover the money due, unpaid interest, plus the costs of foreclosure, after the debtor fails to make payment.
In most cases, a wrongful foreclosure action alleges that the amount stated as due and owing in the notice of default is incorrect for one or more of the following reasons: an incorrect interest rate adjustment, incorrect tax escrow collected, misapplied payments, or a forbearance agreement which was not adhered to by the servicer, Wrongful foreclosure actions are also brought when the servicers accept partial payments after initiation of the wrongful foreclosure process, then continue with the foreclosure.
Indiana Instruction to Jury Regarding Damages for Wrongful Foreclosure provides guidance to the jury in cases where a foreclosure is found to be wrongful. It outlines the various types of damages that can be awarded to the homeowner or property owner who has suffered harm as a result of the wrongful foreclosure. These damages aim to compensate the affected party for their losses and restore them to the position they would have been in had the wrongful foreclosure not occurred. Some key keywords relevant to Indiana Instruction to Jury Regarding Damages for Wrongful Foreclosure include: Indiana, wrongful foreclosure, damages, jury, compensation, homeowner, property owner, harm, losses, restore, position. There are different types of damages that may be considered in cases of wrongful foreclosure in Indiana, and the instruction to the jury may include the following: 1. Compensatory damages: These are monetary damages awarded to compensate the homeowner or property owner for their actual losses resulting from the wrongful foreclosure. This may include the value of the property, any equity lost, interest on payments, costs of relocation, and any other financial harm suffered. 2. Emotional distress damages: In some cases, the instruction to the jury may include the consideration of damages to compensate for emotional distress caused by the wrongful foreclosure. This may cover mental anguish, humiliation, anxiety, or other emotional harm suffered as a result of the foreclosure. 3. Punitive damages: In certain circumstances, the instruction to the jury may inform them about the possibility of awarding punitive damages. These damages are meant to punish the party responsible for the wrongful foreclosure and deter others from engaging in similar conduct in the future. Punitive damages are typically awarded when the actions of the foreclosing entity were particularly egregious or malicious. 4. Attorney's fees and costs: The instruction may also include guidance on awarding attorney's fees and costs to the homeowner or property owner. This allows the prevailing party to recover the expenses incurred in pursuing legal action against the wrongful foreclosure. The precise content and instructions for damages may vary based on the specific circumstances of each case and the applicable Indiana laws and regulations. The jury will be provided with all relevant instructions, evidence, and legal guidelines to ensure a fair and just determination of damages for the wrongful foreclosure.
