Thursday, February 16, 2017

Our legislators need to fix a long-standing problem with property ownership in Indiana.. Property is foreclosed upon and a judgment issued. The property though doesn't transfer
 officially though until there is a Sheriff's sale. Property owner has no authority to force the mortgage company/bank to have the court schedule the Sheriff's sale and such a sale might be delayed months even years. In the meantime, it remains officially in the property owners' name. Well that owner is not going to spend hundreds or thousands of dollars to maintain property that has been foreclosed upon and the owner is not going to be able to redeem. And the mortgage company/bank that received the judgment doesn't actually own it yet, so they're not going to be able to fix it up. In the meantime, you have local officials coming in and hammering the property owner with fines and other penalties for not maintaining the home. Zombie homes they are sometimes referred to. Please legislature...we need help.

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