Question by : How do you dismiss the pre-forclosure period in Indiana?
We have not made payments on our home for a year and a half. The bank has not started the foreclosure process yet, but stated they would be soon. We have read that you could dismiss the pre-forclosure process to avoid paying any unsatisfied debt after the sheriffs sale of the home. Does anyone have any information on how to dismiss the pre-foreclosure process in Indiana?

Best answer:

Answer by Christopher B
I believe you are talking about doing a Deed in Lieu – this is when you voluntarily give the bank the deed to you home. It saves them money by avoiding the court – and gives you the opportunity to negotiate you own terms (such as ensuring their is no deficiency judgement).

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