As a follow up to our client advisories published on May 29, 2009 and June 3, 2009, please allow this advisory to be a reminder of the Pre-Suit Notice Requirement in Indiana. Pursuant to Indiana Code 32-30-10.5, effective July 1, 2009, a lender/creditor is required to send a Pre-Suit Notice to the debtor, at the property address (or last known address, if different from the property address) via certified mail, return receipt requested, at least 30 days prior to filing a foreclosure.

Here is a copy of the prescribed Notice form and the Instructions for notices. The new law also requires the law firm filing the foreclosure action to attach a copy of the Notice sent by the lender/creditor to the foreclosure complaint.

Please note that under this law, only the lender/creditor can mail this Notice. However, the lender/creditor is not required to send the Notice if, the loan is secured by a dwelling that is not the debtor's primary residence, or if the debtor has vacated or abandoned the property. The lender/creditor is also not required to send the Notice if the loan has been the subject of a prior foreclosure prevention agreement, under this new law, and the debtor has defaulted on the prevention agreement, or if bankruptcy law prohibits the lender/creditor from participating in the settlement conference with respect to the loan.

If you have any questions on this information, please contact Mr. Zarksis V. Daroga, Esq. Zarksis is an associate in the Real Estate Default Group of the Cincinnati office focused on foreclosure services for Weltman, Weinberg & Reis Co., L.P.A. He can be reached at (513) 333-4075 or via e-mail at zdaroga@weltman.com.

Client Advisory is published by Weltman, Weinberg & Reis Co., L.P.A., an organization providing comprehensive creditor representation. The information contained in this advisory is a summary of legal information and is not intended to constitute legal advice on specific matters or create an attorney-client relationship. Contact any of our offices or visit our website at realestatedefaultgroup.com for more real estate related information, company facts and attorney profiles. (c) 2009