Legal Question in Bankruptcy in Indiana

Re: Sheriff Sale

Depending upon when the owner files bankruptcy (whether he is waiting for the sale to file or filed to prevent the sale), generally sheriff's sales are stayed until the bankruptcy is discharged. You should find out who their bankruptcy attorney is or who the trusee of the bankruptcy estate is or the mortgage holder to begin negotiations. If the owner has filed for bankruptcy, you can go the Clerk's office in the district where you reside to find out the name of the attorney and the trustee. You can go to your local county clerk's office to check to see if the owner has been sued by his mortgage company to find out who the mortgage company is.

Re: Sheriff Sale

It depends upon the county you live in. In some counties it takes 10-12 mos from when they stop paying for the house to go up for sale. In otehr counties, it may be two yrs. If you are interested in the house, go to the Recorder's Office, find out who the mortgage company is, call them and see if they might be interested in a short sale. You would need to current owner's to sign off on it. Usually it's not worth buying a house at a sheriff's sale due to all of the fees and costs, etc owed to the mortg. co. Best bet is to catch them at the beginning of the cycle.