With a pending sheriff sale, do I have any redemption rights?
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With a pending sheriff sale, do I have any redemption rights?
My home is up for short sale, however, I was told my bank turned it down and went ahead with foreclosure proceedings? I was notified of a sheriff’s sale in 2 months. Do I have any legal rights as a homeowner? Is there a 6 month redemption period? My realtor keeps telling me I need to be out before the sale but wouldn’t that be abandonment? She also told me they would padlock my home if sold at the sheriff’s sale. How can a bank turn down a short sale, claiming they didn’t get a response from me? Plus, I can’t qualify for haffa to help move?
Asked on April 9, 2012 under Real Estate Law, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 12 years ago | Contributor
Please seek legal help i=from a qualified attorney in your area. It is my undestanding that Indiana law des not allow a post sale right of redemption but there is a right to redemption pre-sale and after a judgement has been rendered. So move quickly. If the facts are as you have laid them out here there may be time. As for the short sale, a bank does not have to approve it but look in to why as well. Good luck.
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