The Indiana Foreclosure laws allow lenders to seek legal remedy against defaulting borrowers through judicial foreclosure.
- The judicial foreclosure is triggered with the filing of a lawsuit in the Indiana court.
- It is applicable in cases where the Deed of Trust or mortgage does not have a power of sale clause.
- The court will consider the facts of the case and issue a foreclosure.
- There will be considerable time interval between the date of foreclosure and the date of sale of the property.
- Lenders can use such interval to advertise the property for sale to fetch a deserving market price.