Legal Question in Banking Law in Indiana

Can a lender foreclose on a property if payments are on time and current?

Asked on 11/09/11, 6:16 am

1 Answer from Attorneys

terrence rubino rubino ruman crosmer smith and sersic

yes. the federal regulators are making things very difficult for banks. even if current, if for example the collateral is insufficent due to a decrease in value or perhaps your tax returns don't show the capacity to make the payments, the regulators may be putting pressure on the bank. banks do not want forclosures - they want a performing loan. meet with your banker and work with them to solve the problem - it is their problem too. good luck.

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Answered on 11/09/11, 9:14 am

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