Bank Owned Properties In Indianapolis

These consist of REO (Real Estate Owned), HUD or VA Owned properties.

When a foreclosure house goes to the Lender at Sheriff Sale, the Lender will perfect the title (strip off any liens against the property) then list it for sale.

If the loan was a conventional loan it will be an REO property and if the original loan was an FHA or VA (Veteran Affairs) insured loan, it will be listed as a HUD or VA Owned property respectively.

If you live in Indianapolis Indiana and are looking to buy or sell a home please call Fred Krawczyk and Associates at 317-294-4425. If you are facing foreclosure, we can help.

What is a Sheriff Sale?

A sheriff sale is a court ordered event after the lender is awarded a Foreclosure Judgment.

The Lender’s law firm will file a praecipe for sheriff sale after which the property has to be publically advertised for sale for at least 30 days prior.

Generally speaking, most houses go to the Lender at Sheriff sale because no one bids or bids high enough.

If you live in Indianapolis Indiana and are looking to buy or sell a home please call Fred Krawczyk and Associates at 317-294-4425. If you are facing foreclosure, we can help. 

Foreclosure

I often hear people say, “my house is going to foreclosure”.

 Foreclosure is a process, not an event.  When you are unable to make your loan payments, usually after 3 or more missed payments, the lender will hire a local law firm to file a Foreclosure Law Suit against the owner (more accurately the Borrower).

The foreclosure process takes at least 6 months ending with a foreclosure judgment if you don’t do something like a loan modification, short sale or deed in lieu of foreclosure.

If you are looking to buy or sell a home in Indianapolis - please visit us at http://indyhouses.net/

Home Ownership

Most people don’t realize this but when you get a loan to purchase a home in Indiana you actually get the deed to your home after the closing.

Once it is recorded at the county court house, it is mailed to you 30-60 days later unlike financing a car where the bank holds the vehicle title until the loan is paid off.

This is also why a bank can repossess a vehicle but have to file a foreclosure law suit to get possession of the home.

If you live in Indianapolis Indiana and are looking to buy or sell a home please call Fred Krawczyk and Associates at 317-294-4425. If you are facing foreclosure, we can help.