Apologies for the lack of content the past 30 days. Significant personal and business commitments have gotten in the way. I'm alive and well, however. Sometimes I'm asked whether Indiana has commercial interest rate caps or, in other words, whether...      Related Stories When Does The Defense Of “Laches” Apply? Another Indiana Decision Concerning Attorney’s Fees In A Foreclosure Action Indiana’s Post-Judgment Interest Statute Applies to Awards of Attorney’s Fees   ..read more

Lesson. Indiana courts respect language in mortgages and generally will uphold contractual waivers of defenses. Case cite. Devlin v. Horizon Bank 235 N.E.3d 850 (Ind. Ct. App. 2024) Legal issue. Whether a surety should be released from liability because the...      Related Stories Surety, Who Pledged A Mortgage To Secure An Ag Loan, Failed To Establish Impairment Of Collateral Defense Lender’s Email Committing To Future Loan Modification Does Not Prevent Foreclosure Estate Could Not Recover Alleged Debts Of Decedent’s Son Under “Open Account” Theory   ..read more

Lesson. A surety (a form of guarantor) has a high burden to prove some "unjustified or unreasonable act” by a lender in order to establish the so-called “impairment of collateral” defense. Case cite. Devlin v. Horizon Bank, 235 N.E.3d 850...      Related Stories Lender’s Email Committing To Future Loan Modification Does Not Prevent Foreclosure Estate Could Not Recover Alleged Debts Of Decedent’s Son Under “Open Account” Theory Individual’s Credit Card Authorization To Cover Company’s Unpaid Invoices Opened Door To Personal Liability   ..read more

My news feed this week produced this article from Fox59: Surplus Funds After Foreclosure: Key Facts and Recovery Options for Homeowners. The article is not state-specific, so I thought I'd build on the piece by commenting on Indiana law. In...      Related Stories Marion County (Indianapolis) Sheriff's Office Updates Notices of Sheriff’s Sales: Some Reminders Replevin Action To Repossess Model Of Picasso Sculpture Succeeds   ..read more

Lesson. Loan records created by the originating lender can be admissible in an assignee lender’s lawsuit. Case cite. King v. Nat'l Collegiate Student Loan Tr. 2006-4 232 N.E.3d 646 (Ind. Ct. App. 2024) Legal issue. Whether Lender’s designated loan records,...      Related Stories Mortgage Lender Entitled To Attorneys’ Fees Despite Not Foreclosing Loan Against Borrower What Is A “Body Attachment” And When Does It Expire? Reminder: As A Defendant Lien Holder, Answer The Complaint To Protect Your Interests   ..read more

[Personal and professional commitments have prevented me from posting this past month. Rest assured that I and my beloved blog are alive and well. I wish you and your families a Happy Thanksgiving, and I appreciate you visiting this site,...      Related Stories Indiana Claims To Pierce The Corporate Veil Should Be Post-Judgment Collecting From Related Companies - The Two Prongs Of Indiana’s Alter Ego Indiana Federal Court Dismisses Alter Ego Claim Against Affiliated Company   ..read more

Lesson. Even when a check is cashed and that check contains a notation that cashing it shall be considered “settlement in full” of a disputed debt, accord and satisfaction is not automatic. Case cite. Mayes v. Goldman Sachs Bank USA,...      Related Stories Prior Replevin Of Manufactured Home Did Not Render Mortgage Fully Satisfied As To the Underlying Land Indiana’s UCC Financing Statement Termination Obligations Damages Under Indiana’s UCC For Breaching The Peace: Treatment Of Deficiency   ..read more

Lesson. Judgment creditor must obtain an order to renew an expired judgment lien before trying to execute on that lien. Case cite. Chitwood v. Guadagnoli, 230 N.E.3d 932 (Ind. Ct. App. 2024) Legal issue. Whether summary judgment for Plaintiff in...      Related Stories Assignee Of Judgment Unable To Pursue Collection Absent Order Substituting Parties Both An Appeal And A Bond Generally Are Required To Stay Proceedings Supplemental What Is “Constructive Notice” In The Context Of Indiana Real Estate Law?   ..read more

Lesson. Assuming a default, a defendant lender need not file a claim to enforce its loan against a borrower to recover attorneys’ fees incurred for litigation impacting its mortgage lien. Case cite. Edgerock Dev. LLC v. C.H. Garmong & Son...      Related Stories What Is A “Body Attachment” And When Does It Expire? When Does The Defense Of “Laches” Apply? Reminder: As A Defendant Lien Holder, Answer The Complaint To Protect Your Interests   ..read more

Lesson. A body attachment is a judicial tool that essentially operates as an arrest warrant for compelling a judgment debtor, who is in contempt, to appear in court. These writs may not issue until a prior “show cause” order to...      Related Stories Reminder: As A Defendant Lien Holder, Answer The Complaint To Protect Your Interests Lender Permitted To Pursue Third Foreclosure Case Because The Two Prior Actions Were Dismissed “Without Prejudice” Assignee Of Judgment Unable To Pursue Collection Absent Order Substituting Parties   ..read more