Category Archives: Asset Recovery

The timing of the foreclosure process primarily depends upon whether and to what extent the borrower/mortgagor contests the proceeding. Obviously, this is difficult to predict. But in very general terms, a contested foreclosure takes 6 to 9 months at a minimum to complete, from the date the Complaint is filed to the date of the sheriff sale. Step by step, the process is: 1. Commence the foreclosure with a Complaint. Indiana is a judicial foreclosure state, so the foreclosure process officially starts with the filing of a complaint, which must allege the existence of a promissory note or other obligation payable to the plaintiff, a mortgage that secures its repayment, and that the mortgagor has defaulted. McEntee v. Wells Fargo Bank, N.A., 970 N.E.2d 178, 182 (Ind. App. 2012), citing Ind. Code § 32-30-10-3(a). In addition to the borrower/mortgagor, all other defendants who may have an interest in the mortgaged property must be named. 2. Service of process: issued by the clerk of the court. If process is by certified mail, process server, or sheriff, service is typically completed 5-10 days after the Complaint is filed. Service by publication takes at least 30 days, and must be supported by affidavit. See generally Indiana Trial Rule 4. 3. Appearance of counsel: a notice of appearance for mortgagor/borrower (and any other defendants) must be filed 20-23 days after service of process, and will typically be accompanied by an initial 30-day extensions of time to respond to the Complaint. In some counties, the first 30-day extension is granted automatically…