Ind. Code § 37-4-4-1
Rebuttable presumptions; homeowner's ability to pay upon reconveyance
As added by P.L.115-2026, SEC.97.
For purposes of this chapter, there is a rebuttable presumption that:
- (1) a homeowner has a reasonable ability to pay for a subsequent reconveyance of real property if the homeowner's payments for primary housing expenses and regular principal and interest payments on other personal debt, on a monthly basis, do not exceed sixty percent (60%) of the homeowner's monthly gross income; and
(2) the foreclosure purchaser has not verified reasonable payment ability if the foreclosure purchaser has not obtained documents other than a statement by the homeowner of assets, liability, and income.
[Pre-2026 Revision Citation: 24-5.5-5-1.]
As added by P.L.115-2026, SEC.97.