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Foreclosure Notices and Loss Mitigation Package

Pre-Suit Notice (UPDATED FORM)

Pursuant to Ind. Code § 32-30-10.5-8, a lender must send a homeowner a pre-suit notice on a form prescribed by Indiana Housing and Community Economic Development Agency (“IHCDA”) at least thirty (30) days prior to filing a foreclosure action against the homeowner. With input from the Indiana Attorney General’s Office, IHCDA is publishing a revised pre-suit notice to comply with the national mortgage settlement. Lenders are encouraged to implement the revised pre-suit notice as soon as possible. We anticipate that most lenders will implement the notice within six (6) to eight (8) weeks. However, lenders must adopt the revised notice on or before January 1, 2013. The form may also be found at http://www.ihcda.in.gov/


Please see below for instructions for the Pre-Suit Notice. Although IHCDA has provided instructions for completing and sending the Notices, these are not to be construed as legal advice and do not replace or supersede the provisions of IC 32-30-10.5-8 or other applicable law.

Settlement Conference Notice (UPDATED FORM)

On May 10, 2011, Governor Daniels signed into law Senate Enrolled Act No. 582. Section 8 of SEA 582 requires IHCDA, in consultation with the division of state court administration, to prescribe new language for the Settlement Conference Notice. IHCDA revised the Settlement Conference Notice and prescribed a new version under the authority granted in IC §32-30-10.5-8. The new Notice has been written so that the borrower is notified of their right to a settlement conference on the first page of the summons. The FINAL version of the Settlement Conference Notice may be found at the link below. Lenders must adopt this Notice no later than July 1, 2011.

Loss Mitigation Package

In conjunction with revising the Settlement Conference Notice, Senate Enrolled Act No. 582 Section 6 requires that IHCDA specify a set of documents known as the “Loss Mitigation Package.” The borrower must provide the Loss Mitigation Package to both the lender and the court thirty (30 days) prior to a scheduled settlement conference.

To provide ample lead time to borrowers to adopt the Loss Mitigation Package, IHCDA now posts the Loss Mitigation Package check list and blank forms to complete the check list, as created to comply with the terms of SEA 582, at http://www.ihcda.in.gov/ and http://www.877gethope.org/. Under Indiana law, borrowers must provide this Loss Mitigation Package for foreclosures filed after June 30, 2011.