News + updates + recent press
The foreclosure crisis starting around 2007 bore from it a slew of legislation which attempted to help borrowers facing imminent foreclosure or the loss of their home due to foreclosure. One such piece of legislation was the Troubled Asset Relief Program, or TARP. In February of 2010, the United States Treasury established the Hardest Hit Fund in an effort to provide targeted financial aid to states hit most significantly by the subprime mortgage crisis.
Indiana is one of 19 states that received money from the U.S. Treasury to fund its Indiana Hardest Hit Fund (“the Fund”). Over the course of its run since 2010, Indiana received more than $283 million for the Fund, which was a program run by the Indiana Housing and Community Development Authority (IHCDA). The final deadline for accepting applications for the fund ended on May 3, 2021. The program provided eligible borrowers with up to $30,000.00 to reinstate their mortgage loans (see 877gethope.org). The Indiana Foreclosure Prevention Network boasts that it has provided over $182 million to over 11,000 Hoosiers in the State.
Order Amending Local Bankruptcy Rules
The Bankruptcy Court for the Northern District of Indiana (“IN-N”) has adopted a new local rule and corresponding form for filing a Response to Notice of Final Cure (“Response”) effective January 1, 2021. Changes are summarized below:
PLG BLOG DISCLAIMER
The information contained on this blog shall not constitute legal advice or a legal opinion. The existence of or review and/or use of this blog or any information hereon does not and is not intended to create an attorney-client relationship. Further, no information on this blog should be construed as investment advice. Independent legal and financial advice should be sought before using any information obtained from this blog. It is important to note that the cases are subject to change with future court decisions or other changes in the law. For the most up-to-date information, please contact Padgett Law Group (“PLG”). PLG shall have no liability whatsoever to any user of this blog or any information contained hereon, for any claim(s) related in any way to the use of this blog. Users hereby release and hold harmless PLG of and from any and all liability for any claim(s), whether based in contract or in tort, including, but not limited to, claims for lost profits or consequential, exemplary, incidental, indirect, special, or punitive damages arising from or related to their use of the information contained on this blog or their inability to use this blog. This Blog is provided on an "as is" basis without warranties of any kind, either express or implied, including, but not limited to, warranties of title or implied warranties of merchantability or fitness for a particular purpose.