[r72] Rep. Clere Reduces Abandoned Properties (1/31/2012)

Tuesday, January 31, 2012

Start Date: 1/31/2012
End Date: 1/31/2012

Floyd County

Rep. Clere Reduces Abandoned Properties

STATEHOUSE – House Bill (HB) 1238, co-authored by Rep. Ed Clere (R-New Albany), unanimously passed the House today.  The bill seeks to expedite the foreclosure process for abandoned properties.

“Vacant and abandoned houses are a big problem for neighborhoods and communities,” said Rep. Clere. “This bill will help resolve the problem by speeding up the foreclosure process when an owner has walked away from a property and left it to deteriorate.”

Once the process is set in motion, a foreclosure takes approximately five months to complete in Indiana.

“There is no need to allow abandoned houses to sit vacant because of excessive, government red tape,” said Rep. Clere. “It only hurts neighborhoods.”

HB 1238 will help expedite the foreclosure process by allowing a creditor in a residential mortgage to petition the court to find that the property is abandoned. At any time, however, the debtor is allowed to present evidence that the property is not vacant or abandoned. Even after foreclosure, Indiana allows a three-month redemption period.

HB 1238 will now move to the Senate.