Legal Question in Real Estate Law in Indiana

Re: Real estate law help

Anyone who has a junior mortgage (or other interest) on a property which is being foreclosed upon by the senior mortgage holder must be named and served as a defendant so that the senior mortgage holder can take clear title after the foreclosure. Take the papers you received to a lawyer to see if that's all there is to it. If that is all, then it means the senior mortgage holder will get a judgment wiping out your mortgage. And if you have already been paid full price for the house, you have nothing to lose. So far, so good. But from your question, it appears that you helped the buyer falsely qualify for a 90/10 loan. (Stating that you have a mortgage or an inflated purchase price could be fraud or forgery. If the mortgage company or the U.S. Attorney ever discover this, you could be charged with a criminal offense, which is separate from the foreclosure action. Again, you should cheerfully pay a local attorney to review this matter with you in person. Good luck.

Re: Real estate law help

You were named in the suit because you are a second mortgage holder. You wont have liability, rather the first mortgage holder named you and is asserting that its' rights are superior to yours.

You should hire your own attorney to review your paperwork and confirm the situation.

Good luck.