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High court seeks comment on foreclosure practices

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The Indiana Supreme Court is accepting comments from the public on the proposed “Mortgage Foreclosure Best Practices” guidelines.

The “best practices” statement was created in 2010 by a task force of trial judges, attorneys for creditors and debtors, academic experts, and attorneys in the Indiana Attorney General’s Office and Supreme Court’s Division of State Court Administration.

In January, the attorney general petitioned the court to promulgate an order requiring all trial courts observe and enforce the practices. The Indiana Bankers Association and Indiana Mortgage Bankers Association have requested guidance on the proper procedure for participation in the matter.

Now, the high court is inviting public comment on the substantive content of the practices list and whether all or some of the practices should be promulgated as rules or remain advisory only. Comments will be accepted through May 30, 2011.

Comments should be filed with the clerk of the Indiana Supreme Court. More information on the Mortgage Foreclosure Best Practices can be found on the court’s website.

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