State Rep. Woody Burton met with experts on home foreclosures Wednesday in an effort to find further solutions for Indiana’s abandoned and vacant homes.
By meeting with bankers, attorneys, consumer protection advocates along with foreclosure experts, Rep. Burton intends to find ways to expedite the foreclosure process so abandoned or vacant homes can be turned over in a timely manner.
“When a home is vacant or abandoned, the house and the lawn’s appearance can become rundown affecting the overall look and affecting the safety of a neighborhood.
“Property eyesores can lower surrounding property’s value,” said Rep. Burton. “We are looking for solutions for dealing with abandoned properties in order to keep our communities safe and strong.”
According to research done by the Attorney General’s office, as of April 2010, it took an average of 419 days for a borrower who defaulted on their mortgage to actually lose his property to foreclosure, a timeframe that was the second highest when compared with other Midwestern states.
A property needs to be considered abandoned before it can begin the foreclosure process, be sold, or begin the renovation process. The legislation Rep. Burton is drafting looks to further define and qualify a property as ‘abandoned’ or ‘vacant’.
“Because of the increase in foreclosures, the foreclosure process has been slowed due to backlog,” said Rep. Burton. “It is my hope through these meetings to find ways to get abandoned and vacant homes turned over in a timely manner.”
This past session, the General Assembly passed Senate Enrolled Act 582, legislation that helps aid in providing a way for neighbors to take care of abandoned homes. Referred to as the ‘Good Samaritan Provision’, the law provides a way for neighbors to proactively be involved in their community and for communities to take care of foreclosed property within the neighborhood, holding the neighbor harmless with respect to any claims of civil or criminal trespassing.
In the 2010 legislative session, House Enrolled Act 1122 addressed vacant and abandoned properties. This bill sped up the process of handing over ownership of abandoned, foreclosed properties authorities to sell. Even though the 2010 legislation sped up the process, the terms ‘vacant or abandoned’ were not truly defined and continue to slow down the foreclosure process. Rep. Burton is looking to further define these terms so homes can be turned over in a timely manner.
If you have any suggestions, I encourage you to contact my office to join the conversation. You can email me at H58@in.gov or call my office at 1-800-382-9841.
