Hoosier homeowners who facing foreclosure have more legal help

July 1st is when a new State law for Hoosiers goes into affect that will help Hosier homeowners that are facing foreclosure.

During the foreclosure proceedings, it will be mandated and required, after July 1st 2009, mediation between homeowners and lenders in foreclosure cases.

Due to job loss and other circumstances central Indiana might see an increase in Foreclosures.

What do you need to do as a homeowner?

I have written about this in one of my previous blogs called Short Sale info for Indiana Homeowners and here I tried to be as detailed as I can in helping you collect all the needed paperwork.

Even so the mitigation is mandated, you as the homeowner still need to do your part, so that the lenders can make an informed decision.

Have your paperwork ready, and talk to you lender before you have to get to the mediation table. Meditation is the last option before you are being foreclosed on.