With a pending sheriff sale, do I have any redemption rights?

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With a pending sheriff sale, do I have any redemption rights?

My home is up for short sale, however, I was told my bank turned it down and went ahead with foreclosure proceedings? I was notified of a sheriff’s sale in 2 months. Do I have any legal rights as a homeowner? Is there a 6 month redemption period? My realtor keeps telling me I need to be out before the sale but wouldn’t that be abandonment? She also told me they would padlock my home if sold at the sheriff’s sale. How can a bank turn down a short sale, claiming they didn’t get a response from me? Plus, I can’t qualify for haffa to help move?

Asked on April 9, 2012 under Real Estate Law, Indiana

Answers:

M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

Please seek legal help i=from a qualified attorney in your area.  It is my undestanding that Indiana law des not allow a post sale right of redemption but there is a right to redemption pre-sale and after a judgement has been rendered.  So move quickly.  If the facts are as you have laid them out here there may be time.  As for the short sale, a bank does not have to approve it but look in to why as well.  Good luck.


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