Indiana Commercial Foreclosure Law
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- Indiana Does Not Have Commercial Usury Laws Apologies for the lack of content the past 30 days. Significant personal and business commitments have gotten in the way. I'm alive and well, however. Sometimes I'm asked whether Indiana has commercial interest rate caps or, in other words, whether... Related StoriesWhen Does The Defense Of “Laches” Apply?Another Indiana Decision Concerning Attorney’s Fees In A Foreclosure ActionIndiana’s Post-Judgment Interest Statute Applies to Awards of Attorney’s Fees ... More
- Material Alteration Defense: Surety Held Liable Despite Undisclosed Loan Modifications And Misuse Of Proceeds Lesson. Indiana courts respect language in mortgages and generally will uphold contractual waivers of defenses. Case cite. Devlin v. Horizon Bank 235 N.E.3d 850 (Ind. Ct. App. 2024) Legal issue. Whether a surety should be released from liability because the... Related StoriesSurety, Who Pledged A Mortgage To Secure An Ag Loan, Failed To Establish Impairment Of Collateral DefenseLender’s Email Committing To Future Loan Modification Does Not Prevent ForeclosureEstate Could Not Recover Alleged Debts Of Decedent’s Son Under “Open Account” Theory ... More
- Surety, Who Pledged A Mortgage To Secure An Ag Loan, Failed To Establish Impairment Of Collateral Defense Lesson. A surety (a form of guarantor) has a high burden to prove some "unjustified or unreasonable act” by a lender in order to establish the so-called “impairment of collateral” defense. Case cite. Devlin v. Horizon Bank, 235 N.E.3d 850... Related StoriesMaterial Alteration Defense: Surety Held Liable Despite Undisclosed Loan Modifications And Misuse Of ProceedsLender’s Email Committing To Future Loan Modification Does Not Prevent ForeclosureEstate Could Not Recover Alleged Debts Of Decedent’s Son Under “Open Account” Theory ... More
- Sheriff's Sale Surplus Goes To Owner/Borrower My news feed this week produced this article from Fox59: Surplus Funds After Foreclosure: Key Facts and Recovery Options for Homeowners. The article is not state-specific, so I thought I'd build on the piece by commenting on Indiana law. In... Related StoriesMarion County (Indianapolis) Sheriff's Office UpdatesNotices of Sheriff’s Sales: Some RemindersReplevin Action To Repossess Model Of Picasso Sculpture Succeeds ... More
- Affidavit From Subservicer Employee Passes Hearsay Test For Original Lender’s Records Lesson. Loan records created by the originating lender can be admissible in an assignee lender’s lawsuit. Case cite. King v. Nat'l Collegiate Student Loan Tr. 2006-4 232 N.E.3d 646 (Ind. Ct. App. 2024) Legal issue. Whether Lender’s designated loan records,... Related StoriesMortgage Lender Entitled To Attorneys’ Fees Despite Not Foreclosing Loan Against BorrowerWhat Is A “Body Attachment” And When Does It Expire?Reminder: As A Defendant Lien Holder, Answer The Complaint To Protect Your Interests ... More
- In Indiana, Is “Piercing The Corporate Veil” An Independent Cause Of Action? [Personal and professional commitments have prevented me from posting this past month. Rest assured that I and my beloved blog are alive and well. I wish you and your families a Happy Thanksgiving, and I appreciate you visiting this site,... Related StoriesIndiana Claims To Pierce The Corporate Veil Should Be Post-JudgmentCollecting From Related Companies - The Two Prongs Of Indiana’s Alter EgoIndiana Federal Court Dismisses Alter Ego Claim Against Affiliated Company ... More