Indiana Code
Chapter 5. Limitations on Foreclosure Consultants and Foreclosure Reconveyances
24-5.5-5-1. Rebuttable Presumptions; Homeowner's Ability to Pay Upon Reconveyance

Sec. 1. 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.
As added by P.L.209-2007, SEC.2.

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