How Do I Sell a House to Avoid Bankruptcy in Indiana

  • Sell your house fast regardless of your situation
  • Pay off your mortgage and other debts
  • Sell your house as-is - no repairs or home improvements

    Get Your Fair & Honest All-Cash Offer Today! No Obligations!

    By submitting this form, you agree to our Conditions of Use and Privacy Policy. You may receive both automated and personal text messages. Reply STOP at anytime to opt-out.

    Or Call Us Now At 219-230-8735

    How Do I Sell a House to Avoid Bankruptcy in Indiana


    If you have late mortgage payments and are having a difficult time catching up on your mortgage, you may be in danger of filing bankruptcy or losing your house to foreclosure. Even if you no longer want your house, it’s best to avoid foreclosure to save your credit. However, selling your house can take too long. As a result, the bank can repossess the house, sell it at auction, and still come after you for the remaining balance.

    Fortunately, there is a way to sell a house to avoid bankruptcy or foreclosure in Indiana. HouseMart can work with you to sell your house as-is and pay cash, giving you the flexibility you need to sell your house fast and get out of your mortgage. We can assess your property, make a fair offer, and close in as little as seven days. 

    Below, we look at the challenges of bankruptcy and foreclosure and discuss the benefits of a cash home sale.

    What is the Bankruptcy Process in Indiana?


    Bankruptcy allows you to eliminate or repay debts under the protection of the bankruptcy court. There are two main types of bankruptcy available for individuals: Chapter 7 and Chapter 13. If you're considering bankruptcy in Indiana, it's important to understand the process and requirements. Here's a step-by-step guide to filing for bankruptcy in Indiana:

    Complete Credit Counseling

    Before filing for bankruptcy, you must complete a credit counseling course from an approved agency.

    File a Petition

    You'll need to file a petition with the bankruptcy court in your area. This will include information about your income, assets, debts, and expenses.

    Attend a Meeting of Creditors

    After filing your petition, you'll attend a meeting of creditors. This is an opportunity for your creditors to ask you questions about your finances.

    Complete a Debtor Education Course

    After the meeting of creditors, you'll need to complete a debtor education course from an approved agency.


    Bankruptcy can have long-lasting negative effects on your credit score and financial future. Filing for bankruptcy can stay on your credit report for up to 10 years, making it difficult to obtain credit or loans in the future. Additionally, not all debts can be discharged in bankruptcy, and some assets may be liquidated to pay off creditors.

    What is the Foreclosure Process in Indiana?


    Foreclosure is the legal process by which a lender takes possession of your property when you fail to make mortgage payments. In Indiana, foreclosures can be judicial or non-judicial, depending on the terms of the mortgage and the lender's preference.

    Here's what you need to know about the foreclosure process in Indiana:

    • The lender must send you a notice of default and intent to foreclose before initiating the foreclosure process.
    • If you fail to cure the default or work out a repayment plan with the lender, the lender can initiate the foreclosure process by filing a lawsuit against you in court (judicial foreclosure) or following a specific process outlined in the mortgage contract (non-judicial foreclosure).
    • If the lender wins the lawsuit or follows the proper process, the court will issue a judgment of foreclosure, and the property will be sold at a public auction.
    • You have the right to redeem the property up until the time of the auction by paying off the outstanding debt and any associated fees and costs.

    Avoiding foreclosure is crucial because it can have a long-lasting negative impact on your credit score and financial future. If your home is foreclosed, it will likely stay on your credit report for seven years, making it challenging to obtain future loans or credit. Additionally, foreclosure can lead to eviction, which can be emotionally and financially devastating.

    What About a Short Sale?


    A short sale is a real estate transaction where you sell your home for less than what you owe on the mortgage. In Indiana, a short sale is one of the options available to homeowners facing financial difficulties and unable to keep up with their mortgage payments. It's a way to avoid foreclosure and minimize the damage to your credit score and financial future. 

    Here are some important things to know about short sales in Indiana:

    • You need to have a legitimate financial hardship, such as a job loss, medical emergency, or divorce, to qualify for a short sale.
    • You need to get approval from your mortgage lender before proceeding with a short sale.
    • You may be required to pay taxes on the forgiven debt, unless you qualify for an exemption under the Mortgage Forgiveness Debt Relief Act.
    • A short sale may take longer to complete than a traditional sale, as it involves negotiations with the lender and potential buyers.

    You should avoid a short sale if possible because it can negatively impact your credit score and financial future. A short sale occurs when you sell your property for less than what you owe on your mortgage. This can lead to a significant drop in your credit score and make it difficult for you to obtain future loans or credit.

    Cash Home Sale: Selling a House to Avoid Bankruptcy or Foreclosure


    Regardless of whether you are going through bankruptcy or foreclosure - or how bad your situation is - a cash home sale is your best option for selling your house fast and getting out of your mortgage. 

    A cash home sale is a real estate transaction where HouseMart pays the full amount in cash, without the need for a mortgage or financing. We know that selling a home can be almost impossible during foreclosure or bankruptcy. However, a cash sale can be an attractive option for those looking for a quick and easy transaction.

    Without the need for mortgage approval,we can close a sale in a matter of days, rather than weeks or months. This can be especially beneficial if you need to sell your house fast.

    Another advantage of a cash sale is the simplicity of the transaction. With no mortgage or financing involved, there is no need to worry about appraisals, inspections, or other complications that can arise during a traditional sale. This can save you time, money, and stress.

    Overall, a cash home sale can be a convenient and efficient option if you need to sell your house right away.

     How Can a Cash Home Sale Help Me Avoid Foreclosure or Bankruptcy?


    HouseMart can help you avoid foreclosure or bankruptcy by providing a quick and efficient way to sell your home for cash. When faced with financial difficulties, buying your home for cash can help you pay off debts and avoid foreclosure, which can negatively impact your credit score and financial future. 

    Additionally, a cash home sale can provide a sense of relief and peace of mind, knowing that you have taken proactive steps to improve your financial situation.

    What Are the Benefits of a Cash Home Sale?


    A cash home sale can have several benefits

    We Simplify the Selling Process

    Selling a home for cash can be much quicker and easier than the traditional process of listing a property with a real estate agent, waiting for an offer, and going through the financing process. With a cash sale, we can close the deal in as little as seven days.

    Zero Home Repairs

    We buy houses as-is, which means you do not have to worry about making any repairs or upgrades to the home before selling. This can save you time, money, and hassle.

    No Financing Contingency

    Our home buyers are prequalified and have the resources necessary to pay cash for your house right now without waiting for a loan approval from the bank.

    No Realtor Commission

    When selling a home through a real estate agent, you have to pay a commission fee of 5-6% of the sale price. With a cash sale, there are no commission fees, which means you get to keep more of the proceeds from the sale.

    Avoid Foreclosure or Bankruptcy

    If you’re facing financial difficulties or are at risk of foreclosure or bankruptcy, we provide a quick and efficient way to sell your home and avoid these negative outcomes.

    A cash home sale can be an attractive option if you want a quick and easy way to sell your house without the hassle of repairs, upgrades, commissions, and financing contingencies.

    Our Simple House-Buying Process?


    At our company, we make the house-buying process as simple and hassle-free as possible.

    Step 1: Give Us a Call

    A quick 10-minute phone is all it takes to help you sell your house fast. We share how our process works and get details about the house and your current situation.

    Step 2: Schedule a Quick Walkthrough

    Schedule an In-person 30-minute appointment for a member of our team and a contractor to walk through.

    Step 3: Get a Fast Cash Offer

    If we like what we see, we’ll make an offer. If you accept the offer, we complete a contract that covers the details of the deal, including time to move, closing date, closing costs, etc.,

    Step 4: Close the Sale

    We submit the contract to the title company and expect to close in as little as seven days. On the day of closing, you walk away with a check.

    Sell Your House Fast in Northern Indiana


    If you need to sell your house fast but don’t want the hassle of a traditional home sale, contact HouseMart. We buy houses as-is. No repairs are needed. Avoid closing costs and realtor commissions. Close in as little as seven days. Call 219–230-8735 for a fast cash offer from our local home buyers in Indiana.

      Get Your Fair & Honest All-Cash Offer Today! No Obligations!

      By submitting this form, you agree to our Conditions of Use and Privacy Policy. You may receive both automated and personal text messages. Reply STOP at anytime to opt-out.

      Or Call Us Now At 219-230-8735

      Frequently Asked Questions About Cash Home Sales in Indiana

      What is a cash home sale?

      A cash home sale is when a homeowner sells their property to a buyer who pays for the home in cash, without the need for financing or a mortgage.

      How can a cash home sale help me avoid foreclosure or bankruptcy?

      A cash home sale can provide a quick and efficient way to sell a home for cash, pay off debts, and avoid negative impacts on credit scores and financial futures.

      Can I sell my home if I'm facing foreclosure?

      Yes, you can still sell your home if you're facing foreclosure. In fact, a cash home sale can often be a better option than foreclosure because it allows you to pay off your debts and avoid negative impacts on your credit score.

      Can I sell my home if I'm in bankruptcy?

      Yes, you can still sell your home if you're in bankruptcy. However, you may need to get permission from the court and your bankruptcy trustee before you can sell the property.

      How is a cash home sale different from a short sale?

      A cash home sale is different from a short sale because the seller is not selling the property for less than the amount owed on their mortgage. Instead, they are selling the property for cash, which can help them pay off their debts and avoid negative impacts on their credit score.

      Do I need to make repairs or upgrades before selling my home for cash?

      No, you do not need to make any repairs or upgrades before selling your home for cash. Cash buyers are often willing to purchase properties in as-is condition.

      Will I have to pay commission fees if I sell my home for cash?

      No, you will not have to pay commission fees if you sell your home for cash. Cash buyers are often real estate investors who are looking for properties to add to their portfolio, and they do not charge commission fees.